Jill Lawless, Associated Press
LONDON (AP) – High-level delegations from the US and China met in London on Monday to try and carry out a fragile ceasefire in a trade dispute that has shaken the world economy.
The Chinese delegation led by the Deputy Prime Minister spoke with US Secretary of Commerce Howard Lutnick, Treasury Secretary Scott Bescent and Representative Jamieson Greer at Lancaster House, a gorgeous 200-year-old mansion near Buckingham Palace.
China’s Commerce Minister Wang Wentao was also part of the Beijing delegation.
Talks that could continue Tuesday provided a temporary rest in the trade war following negotiations in Geneva last month.
The stacked containers will be found on Friday, May 23, 2025 at Young Luo Port on the Young Tu River in Uhan, Hubei Province, central China.
The container-loaded truck will pass through the container terminal port in Shanghai, China on Monday, June 9, 2025.
The container-loaded truck will pass through the container terminal port in Shanghai, China on Monday, June 9, 2025.
In this image, Chinese deputy premier Lifeeng, Right, shot from video footage operated by Phoenix TV via AP Video, will take a photo with the British Prime Minister of Rachel Reeves on Sunday, June 8, 2025, outside London’s 11 Downing Street.
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The stacked containers will be found on Friday, May 23, 2025 at Young Luo Port on the Young Tu River in Uhan, Hubei Province, central China.
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On May 12, the two countries announced they had agreed to a 90-day suspension of most of the 100% or more tariffs they imposed on each other in the escalating trade war that caused the fear of the recession.
The US and China are the largest and second largest economy in the world. China’s trade data shows that exports to the US fell 35% in May from the previous year.
Since Geneva spoke, the US and China have exchanged angry words about artificial intelligence, visas for Chinese students at American universities, and advanced semiconductors that drive “rare earth” minerals, essential to automakers and other industries.
President Donald Trump spoke at length last Thursday after Chinese leader Xi tried to get back on track on the phone. The following day, Trump announced on social media that trade talks would resume in London.
Rare earth was expected to be the focus of discussions. The Chinese government began requiring producers to obtain licenses to export seven rare earth elements in April. As a result, the shortage has made automakers hotter around the world. Some worried that production would have to be stopped when stockpiles drove off.
Beijing on Saturday indicated it was addressing concerns that came from European and US companies.
US economic adviser Kevin Hassett told CNBC on Monday that he hopes for a short meeting with a “big strong handshake” in the rare earth.
The UK government provides venues and logistics, but is not involved in the meeting, but UK Treasury Prime Minister Rachel Reeves has met both Bescent and him, and UK Business Secretary Jonathan Reynolds said he was due to meet the King.
“We are a country that defends free trade and we welcome these consultations as we are constantly making clear that the trade war has no interest in anyone,” the UK government said in a statement.
Washington’s Associated Press writer Diddy Tan contributed to the story.
Original issue: June 9, 2025, 12:29pm EDT
