World trade
State media: China and the USA continue to speak in London
The first day of the negotiation between China and the USA is over. Both sides seem to want to stay in conversation.
According to Chinese state media, China and the United States continue to negotiate in London to end their trade dispute. This emerges from a socia media account of Chinese state television. An exact time was not mentioned. According to other media reports, citing US officials, the sequel is expected in the morning (local time London).
Representatives of the two largest economies in the world met on Monday afternoon (local time) in the Lancaster House in the British capital. Among other things, US Finance Minister Scott Bessent and Minister of Commerce Howard Lutnick as well as China’s Vice Prime Minister He Lifeng and Minister of Commerce Wang Wentao.
Dispute over export controls
Intermediate results of the talks initially not officially became known. US President Donald Trump’s economic advisor, Kevin Hasset, told the CNBC broadcaster, he was expecting a short meeting “with a strong handshake”. Trump said in Washington that the United States would get along well with China. “I only get good reports,” he continued.
About a month ago, both sides in Geneva had agreed on a 90-day break in the customs dispute and a significant reduction in the surcharges for goods from the other country. On the other hand, the main dispute this time seems to be trade restrictions.
China’s export controls on rare earths are also concerned about the United States. Washington wants to achieve loosening. In return, the United States could drive back its trade restrictions in the area of computer chips or aircraft components, where China depends on foreign technology.
dpa
Source: Stern
