Top U.S. officials are set to meet Chinese counterparts in London on Monday to ease trade tensions between the world's two largest economies. U.S. President Donald Trump announced that Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer will lead the American delegation. The talks follow a rare call between Trump and Chinese President Xi Jinping, during which both leaders agreed to resume high-level exchanges.
China’s Foreign Ministry confirmed that Vice Premier He Lifeng will be in the U.K. from June 8 to 13 for the first session of the newly established China-U.S. economic and trade consultation mechanism. Trump expressed optimism, stating, “The meeting should go very well.”
The upcoming negotiations follow a 90-day truce agreed on May 12 in Geneva, where the two nations pledged to roll back some of the steep tariffs imposed since Trump returned to office. This initial deal triggered a relief rally in global stock markets, with the S&P 500 recovering from near-bear market territory and now sitting just 2% below its record high.
Despite the progress, broader issues remain unresolved. These include disputes over Taiwan, China’s state-led economic practices, and the ongoing U.S. crackdown on illicit fentanyl trade. Tensions are further heightened by China’s dominance in rare earth mineral exports, a strategic leverage point as the U.S. restricts key technology shipments to Beijing.
Trump’s unpredictable tariff strategy continues to unsettle global investors and policymakers. Analysts warn that a failure to resolve key trade disputes could stall economic recovery and intensify geopolitical friction. With both sides under pressure, the London meeting is seen as a critical step toward stabilizing U.S.-China economic relations and calming global markets.