U.S. Officials Meet Chinese Counterparts Amid Trade Tensions

WASHINGTON, June 7 (Reuters) – Three top aides of U.S. President Donald Trump are set to meet with their Chinese counterparts in London on June 10. This meeting aims to address ongoing trade disputes between the two largest economies in the world and restore stability to global markets.

U.S. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer will represent the United States at these talks. Trump announced the meeting on his Truth Social platform but did not provide additional details.

China’s Foreign Ministry has confirmed that Vice Premier He Lifeng will be in the United Kingdom from June 8 to June 13. During this visit, the first meeting of the China-U.S. economic and trade consultation mechanism is expected to take place. Trump expressed optimism on social media, stating, ‘The meeting should go very well.’

This diplomatic exchange follows a phone call between Trump and Chinese President Xi Jinping earlier this week, where both leaders discussed the escalating trade tensions and agreed on the importance of their meeting.

The two countries face mounting pressure to resolve these issues, particularly as the global economy struggles due to Chinese control over rare earth mineral exports. As the dominant producer of these materials, China has significant leverage in trade discussions.

On May 12, the U.S. and China reached a 90-day deal to reduce some of the tariffs that had been imposed in the past. This preliminary agreement provided a brief relief rally in stock markets, allowing U.S. indexes to recover a significant portion of their losses.

Despite this temporary respite, broader issues remain unresolved. Concerns regarding the illicit fentanyl trade, Taiwan’s status, and China’s export-driven economic model continue to complicate relations between the two countries.

Trump has frequently threatened punitive measures and tariffs on trading partners, stirring confusion among global leaders and nervousness among business executives.

This upcoming meeting is seen as a crucial step in addressing trade barriers and fostering a more stable economic relationship between the U.S. and China, vital for the health of the global economy.