U.S. Commerce Secretary Howard Lutnick stated that trade talks with China in London were 'going well' on their second day. The discussions aim to resolve disputes over export controls, particularly concerning rare earths and semiconductors, which have threatened supply chains and global markets. The talks follow a preliminary deal in Geneva and a recent phone call between Presidents Trump and Xi Jinping.
U.S., China trade talks ‘going well’ on 2nd day, Lutnick says
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TL;DR: Key points with love ❤️U.S. Commerce Secretary Howard Lutnick stated that trade talks with China in London were 'going well' on their second day. The discussions aim to resolve disputes over export controls, particularly concerning rare earths and semiconductors, which have threatened supply chains and global markets. The talks follow a preliminary deal in Geneva and a recent phone call between Presidents Trump and Xi Jinping.
Trending- 1 April (2025): Trump unveiled his sweeping 'Liberation Day' tariffs; China suspended exports of a wide range of critical minerals and magnets.
- 2 May (2025): First round of talks in Geneva resulted in a preliminary deal to cut tariffs; China's exports to the U.S. plunged 34.5%; U.S. responded by halting shipments of semiconductor design software, chemicals, and aviation equipment.
- 3 Last week (early June 2025): Rare phone call between Trump and Chinese President Xi Jinping.
- 4 Monday (June 9, 2025): U.S.-China trade talks began in London (almost seven hours).
- 5 Tuesday (June 10, 2025): Second day of talks resumed.
- 6 Future: Both sides expected to issue updates later in the day.
- Potential easing of export controls on some semiconductors.
- Impact on global supply chains and markets.
- China's exports to the U.S. plunged 34.5% in May.
- Tariffs have hammered U.S. business and household confidence.
What: U.S. and China are holding trade talks in London to seek a breakthrough on export controls, particularly concerning rare earths, magnets, and semiconductors, which have threatened supply chains.
When: Second day of talks on Tuesday (June 10, 2025, assuming article published June 10, 2025). Talks went on all day Monday (June 9, 2025). A first round of talks was held in Geneva in May (2025). Trump unveiled 'Liberation Day' tariffs in April (2025). China's exports to the U.S. plunged in May (2025). A rare phone call between Trump and Xi Jinping occurred last week (early June 2025).
Where: London, UK. Previous talks were held in Geneva.
Why: To prevent a fresh rupture in trade relations, ease investor fears of a global slowdown, and address concerns over supply chain throttling due to export controls. The U.S. seeks faster delivery of rare earths and magnets from China.
How: High-level officials from both countries are meeting for discussions. The U.S. could lift recently imposed export controls on goods like semiconductors if China speeds up the delivery of crucial rare earths and magnets.