Top U.S. and Chinese officials met in London on Monday to continue trade negotiations, with a focus on tariffs and critical mineral exports. Representing the U.S. were Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and U.S. Trade Representative Jamieson Greer. Chinese Vice Premier He Lifeng led the delegation from Beijing.
The discussions, held at Lancaster House and expected to continue Tuesday, aim to revive progress on a preliminary agreement reached last month in Geneva that saw both sides agree to temporarily suspend most tariffs.
White House economic adviser Kevin Hassett said the U.S. team is looking for a clear signal from China on its intent to follow through. “The purpose of the meeting today is to make sure that they’re serious, but to literally get handshakes,” Hassett told CNBC. He added that the U.S. expects export controls to be eased and large shipments of rare earths to resume immediately.
This latest round of negotiations follows a phone call between President Trump and Chinese leader Xi Jinping four days earlier, their first direct conversation since Trump’s January 20 inauguration. Trump later described the call as productive and said it laid the groundwork for Monday’s talks.
Trump announced that Xi agreed to resume exports of rare earth minerals and magnets to the U.S., and that China had granted temporary export licenses to suppliers serving the top three American automakers. China’s move in April to halt exports of those materials disrupted global supply chains in the auto, defense, aerospace, and semiconductor industries.
