China-US Economic Trade Consultation Continues London

High-level trade talks between the United States and China commenced in London, marking the first meeting of the China-U.S. economic and trade consultation mechanism aimed at easing tensions and fostering cooperation between the two largest economies. Led by Chinese Vice Premier He Lifeng and U.S. Treasury Secretary Scott Bessent alongside other senior officials, the discussions follow a recent phone call between President Donald Trump and Chinese President Xi Jinping, focusing on implementing agreed-upon consensus and continuing dialogue. The talks address critical issues such as tariffs, technology export controls, and rare earth materials, which are vital to various industries and have recently caused supply concerns. Early indications suggest potential U.S. easing of some technology export limits and China's willingness to increase rare earth exports, signaling a possible shift in the ongoing trade and technology standoff. These negotiations come after a temporary tariff suspension agreed upon in Geneva and aim to mitigate economic impacts including the risk of recession and disruptions to the global supply chain. Both sides emphasize that cooperation and dialogue are essential to resolving trade disputes and stabilizing the global economy.