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The top US and Chinese officials were meeting in London in London on Monday to eliminate a high -stake trade dispute, which has led to prices from sanctions on rare land, which threatens global supply chain shocks and gradually threatening economic growth.
On the first day of the two -day conversation, the two superpowers were meeting at Zenith Linkster House to try to return to the track with a preliminary contract last month in Geneva, which shortly reduced the temperature between Washington and Beijing.
Since then, the United States has accused China of slow walking of its promises, especially the shipment of rare land.
White House economic adviser Kevin Hasett said Monday that the US team wants to reconcile China on rare lands after Donald Trump, when Donald Trump said Xi Jinping agreed to resume shipment in a rare call between the two presidents last week.
“The purpose of the meeting today is to ensure that they are serious, but have to make a handshake.” He said that the United States would be expected to relax the export control and immediately after that the rare lands would be issued in the volume.
The talks have come up at a significant time for both economies, showing signs of tension from Trump’s tariff orders after returning to the White House in January.
Customs data shows that China’s exports to the United States fall in May 34.5 % of the year in May, which has declined the fastest since February 2020, when the epidemic ending of Covade 19 has promoted global trade.
In the United States, business and domestic confidence have taken a rotation, while the first quarter has been contracted due to a record increase in the import of overall domestic products as the Americans have made a full -fledged purchase to defeat the expected price hike.
But for now, the inflation effects have been silenced, and the job market has been quite flexible, though economists expect the cracks to become more clear in the summer.
Participating in London talks in London, US Treasury Secretary Scott Basant, Commerce Secretary Howard Lotnik and US Trade Representative Jameson Greer, and a Chinese contingent in which the deputy premiere has been helped.
Lotank’s involvement, whose agency oversees export controls for the United States, is an indication of how the central land has become. China has placed a close monopoly on the rare Earth Magnet, which is an important part of power vehicles.
Lutink did not attend the Geneva talks in which countries attacked the 90 -day deal so that they returned some triple -digit revenue on each other.
Positive results
The second round of meetings comes four days after speaking on Trump and Eleven’s phone, which is his first direct interaction since the inauguration of Trump’s January 20.
According to a summary of the Chinese government, during more than an hour’s call, XI told Trump that he should withdraw from trade measures that stopped the global economy and warned them against threatening Taiwan.
But Trump said on social media that these talks primarily focused on trade, which led to a “very positive conclusion”, which led to the Monday meeting in the British capital.
The next day, Trump said that XI had agreed to resume shipment of extraordinary Earth Minerals and Magnit in the United States, and Reuters reported that China had given temporary export licenses to the rare land suppliers of three top US car makers.
In April, China’s decision to suspend the export of major minerals and magnets has given supply chains to the worldwide car makers, aerospace manufacturers, semiconductor companies and military contractors.
White House spokesman Crolley Lavit told the Fox News program “Sunday Morning Futures” that the United States wants the two sides to establish the progress made in Geneva in the hope that they can move toward more comprehensive trade talks.
Initial agreements in Geneva gave birth to a global aid rally in the stock markets, and the bear market level or US indexes recovered the lion’s share in their losses.
But the president of the Eurasia Group, Ian Bermer, said that although a temporary war is possible, bilateral relations were less likely to become constructive in view of broader declining trends and continued to pressure other countries to remove China from its supply chains.
“Everyone around Trump is still hawk, and so is the possibility of a US -China trade deal, especially in the context of other deals that are more and more,” he said in the note.
