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London meeting/First day of US-China trade deal talks

2025-06-09 19:32:00, Kosova & Bota CNA

London meeting/First day of US-China trade deal talks

Senior US and Chinese officials met in London today to try to calm a trade dispute that has expanded from tariffs to restrictions on rare metals, threatening a global supply chain shock and slower economic growth.

In the first of a possible two days of talks, officials from the two superpowers met at the ornate Lancaster House to try to get back on track with a preliminary agreement reached last month in Geneva that had temporarily lowered the temperature between Washington and Beijing.

US economic adviser Kevin Hassett said on Monday that the US team wanted a handshake from China on rare earth metals, after Presidents Donald Trump and Xi Jinping spoke last week.

"The purpose of today's meeting is to make sure they're serious, but to literally shake hands," Hassett, director of the National Economic Council, said in an interview with CNBC.

He said the expectation was that immediately after the handshake, export controls would be eased and rare metals would be released in volume.

The talks, which could last until Tuesday, come at a crucial time for both economies, with investors seeking relief from Trump's cascade of tariff orders since his return to the White House in January. /CNA





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