Senior White House officials will meet with a Chinese delegation in London on Monday for the next round of trade talks, US President Donald Trump has said.
The meeting comes after a phone call between Mr Trump and Chinese leader Xi Jinping on Thursday, which the US president said was “very positive” – lasting about an hour and a half.
Speaking to reporters on Friday from Air Force One, the president added that it was a “good talk”, describing the deal as “complicated”, but one that “will bring us a lot of money”.
He also said: “I get along well with Xi and China.”
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US and China reach agreement on tariffs
Writing on his Truth Social platform, Mr Trump said the upcoming London meeting “should go very well” and added that treasury secretary Scott Bessent, commerce secretary Howard Lutnick and trade representative Jamieson Greer would represent the US at the talks.
It is unclear who will represent China.
The two countries are at an impasse over tariffs and a dispute involving critical rare earth mineral exports, in which China remains the dominant producer.
On 12 May, China and the US struck a 90-day deal in Geneva to pause retaliatory tariffs placed on each other since Mr Trump was inaugurated in January.
The US president said the move was part of a “total reset” in relations.
The agreement prompted a global surge in stock markets and US indexes that were in, or approaching, bear market levels.
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US and China end trade war
The temporary deal saw the US reduce its 145% tariff to 30% on Chinese goods.
China also agreed to reduce its 125% retaliatory tariffs to 10% on US goods.
However, sector-specific tariffs, such as the 25% tax on cars, aluminium and steel, are still in place.
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The Chinese foreign ministry said the US president initiated the call, and they had asked him to “remove the negative measures” in place against China.
It also said that Mr Trump said “the US loves to have Chinese students coming to study in America”.
This is despite his administration previously saying it will “aggressively” revoke the visas of Chinese students studying in the US.
Since Mr Trump’s re-election, the president has frequently issued threats of punitive trade measures against US partners, only to backtrack at the last minute.
