U.S. and Chinese Negotiators to Hold Trade Talks Monday in London

What Happened?

President Donald Trump announced Friday that the U.S. and China have agreed to meet in London to hold key trade discussions.

In a post on Truth Social, Trump confirmed that his administration will meet with Chinese representatives on Monday, June 9.

'Secretary of the Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, and United States Trade Representative, Ambassador Jamieson Greer, will be meeting in London on Monday,' the president said concerning progress toward a trade deal.

Trump suggested that 'the meeting should go very well' as both sides aim to accomplish key goals despite previous trade levies.

Why it Matters

The announcement comes after Trump said he and Chinese President Xi Jinping spoke Thursday and held a one-and-a-half-hour call that 'resulted in a very positive conclusion.'

Chinese officials stated Thursday's call happened at the Trump administration's request.

But both leaders had agreed their respective teams would soon meet.

It reportedly marked the first known call between the two leaders following Trump's January inauguration.

Trump had expressed his frustrations Wednesday with how conversations with China had been going.

'I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!’, Trump stated.

Both countries, regarding their imposed trade levies, had still agreed to scale back for an initial period of 90 days.

China reportedly accused the U.S. of undermining the temporary measure.

AI chip export control guidelines, stopping the sale of chip design software to China, and plans to revoke Chinese student visas are a few examples Chinese leaders stated, according to reports.

The U.S., however, accused China of failing to restart vital shipments of critical minerals for car and computer industries.

Although Chinese officials denied the previous claims from the U.S., it signifies the importance of both groups meeting on Monday.

How it Affects You

Trump has stated there should no longer be questions surrounding the importance of rare earth products.

It remains a focus for the U.S. as it looks to restart key Chinese exports.

Currently, the tariff level on Chinese imports brought into the U.S. is at least 30%.

Beijing also lowered its rate on U.S. goods to 10%.

On a long-term basis, China will look to reduce U.S. tariffs from 145%.

Xi stated the Chinese side is sincere about negotiating, but had explained that China still 'has its principles.'

Both sides have acknowledged the overall importance of a beneficial relationship as the U.S. looks to continue addressing its current trade deficit.