The United States and China are expected to continue high-level negotiations to resolve trade tensions at least until the 11th.
The two countries have been focusing on key issues such as export controls and tariff problems since the 9th in London, England.
Scott Bessent, the U.S. Secretary of the Treasury, met with reporters at the London negotiation site on the 10th (local time) and noted, “We have had constructive discussions over the past two days, and dialogue continues.” He also explained, “Howard Lutnick, the U.S. Secretary of Commerce, and Jamieson Greer, the U.S. Trade Representative (USTR), will continue to consult with the Chinese delegation as needed.”
Minister Bessent returned to Washington, D.C., on the 11th for congressional testimony.
The two countries resumed negotiations at 8 p.m. local time in the UK (4 a.m. on the 11th in Korea).
Minister Lutnick also told reporters, “The negotiations are progressing very smoothly,” and “All participants are focusing their time and efforts and collaborating.”
This round of negotiations is the second high-level meeting following the Geneva talks in May. In Geneva, the two countries agreed to temporarily suspend tariffs exceeding 100%. However, afterward, they claimed that the other had violated the agreement, resulting in the suspension of negotiations.
The core agenda of the resumed negotiations includes easing China's restrictions on rare earth and critical mineral exports, the U.S. export controls on semiconductors, and the lifting of visa restrictions for Chinese students.
In particular, the U.S. is demanding that China increase its supply of rare earths to the U.S., while China is asking the U.S. to ease export regulations related to semiconductor design software, aircraft engine parts, chemicals, and raw materials.