June 12th, 2025
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Important people from the U.S. and China have agreed to continue their trade talks. The talks almost stopped because of some problems, but now they will start again. Both countries have said this.
The announcement happened after two days of talks in London. These talks finished late on Tuesday.
The meetings were about solving arguments over selling minerals and technology. These arguments had made a recent trade agreement in Geneva weak. It's not clear if they made any progress on the main problem: China sells much more to the US than it buys.
First, we had to get rid of the bad feelings. Now we can go forward, U.S. Commerce Secretary Howard Lutnick told reporters after the meetings.
Stocks in Asia went up on Wednesday because they heard about the agreement.
The talks happened after President Trump and China's leader, Xi Jinping, talked on the phone last week to make things better.
Li Chenggang, a Chinese official, said that China and the other country have agreed on a plan. This plan will help them do what they talked about on the phone and in Geneva, according to Xinhua News Agency.
We don't have more information right now, like if they will talk again.
Li and Wang Wentao, who is China's trade minister, were with Vice Premier He Lifeng and his group. They met with Lutnick, Scott Bessent from the Treasury, and Jamieson Greer, who works in trade. They met at Lancaster House, an old house near Buckingham Palace.
Wendy Cutler, who used to be a trade negotiator for the U.S., said that 30 of the 90 days were wasted. This was the time the two sides had to try and solve their problems.
In Geneva, countries agreed to stop most of their very high taxes on each other for 90 days. These taxes were part of a growing trade problem that made people worried about the economy. Also, the World Bank said on Tuesday that the economies of the U.S. and the world will not grow as much this year because of these trade problems.
Cutler, who works at the Asia Society Policy Institute, said that the U.S. and China wasted important time to fix their agreements from Geneva. Now, they only have two months to talk about problems like unfair trade, making too many products, sending goods through other countries, and the drug fentanyl.
After their meeting, the U.S. and China have argued about strong computer chips for AI, study visas for Chinese students in America, and important minerals for making cars and other things.
China makes the most rare earth elements in the world. They may soon let more of these elements be sent to other countries. China wants the U.S. to allow them to buy technology for making better computer chips.
Lutnick said that solving the rare earths problem is a very important part of the agreement. He said the U.S. will stop some things it did because of this problem, but he didn't say what they were.
"He said that when the licenses are approved, our exports should also get easier."
Cutler said it would be strange for the U.S. to discuss its export rules. She said China has been complaining about these rules for almost 20 years because they are a problem.
She said that because of this, the U.S. has let China ask to add export rules to future discussions.
A court in Washington said on Tuesday that the government can continue to collect special taxes on products from China and other countries. This is happening while the government tries to win a case about Trump's trade rules.
Trump said he wants it to be easier for American companies to sell their products in China, which makes a lot of things for the world.
Trump said at the White House, "If we don't work with China, maybe we won't do anything. But we want to work with China."
June 12th, 2025
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