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US, Chinese officials to meet in London next week for new round of trade talks

President Donald Trump speaks during a meeting with the Fraternal Order of Police in the State Dinning Room of the White House, Thursday, June 5, 2025, in Washington. (AP Photo/Alex Brandon)

Key Points

  • Senior U.S. officials, including Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, will meet a Chinese delegation in London next Monday for new trade talks.
  • The meeting follows a 90-minute phone call described by Trump as “very positive” aimed at breaking an impasse over tariffs and rare earth minerals.
  • President Trump said on social media the talks “should go very well” and reportedly initiated the call with Chinese leader Xi Jinping.
  • China called on the U.S. to “remove the negative measures” taken against it, even as the Trump administration plans to revoke visas for some Chinese students.
  • MarketBeat previews top five stocks to own in July.

WASHINGTON (AP) — Senior U.S. administration officials will meet with a Chinese delegation on Monday in London for the next round of trade negotiations between Washington and Beijing, President Donald Trump said Friday.

The meeting comes after a phone call between Trump and Chinese leader Xi Jinping on Thursday, which the U.S. president described as a “very positive” conversation as the two countries attempt to break an impasse over tariffs and global supplies of rare earth minerals.

Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer will represent the U.S. side in the trade talks.

“The meeting should go very well,” Trump wrote on his social media platform Friday afternoon.

Speaking to reporters on Air Force One Friday, Trump said Xi had agreed to restart exports of rare earth minerals and magnets to the U.S. which China had slowed, threatening a range of U.S. manufacturers that relied on the critical materials. The was no immediate confirmation from China.

The Thursday conversation between Trump and Xi, who lead the world's two biggest economies, lasted about an hour and a half, according to the U.S. president. The Chinese foreign ministry has said Trump initiated the call.

The ministry said Xi asked Trump to “remove the negative measures” that the U.S. has taken against China. It also said that Trump said “the U.S. loves to have Chinese students coming to study in America,” although his administration has vowed to revoke some of their visas.

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