"Here's Hoping for a Successful Exchange" Trump Sets Monday's Trade Talks with China in Motion
China-US customs negotiations scheduled for Monday, confirms Trump
After catching up with Chinese President Xi, Trump is ready to tackle the trade feud with Beijing. The next round of discussions is slated for Monday, with Trump already expressing optimism. Meanwhile, Washington seems to have halted the delivery of components for China's nuclear power plants.
In the ongoing trade war between the US and China, US President Donald Trump has shared plans for a new round of talks between the two nations in London next week. Key players such as Secretary of the Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, and US Trade Representative Jamieson Greer, along with a Chinese delegation, will gather in London on Monday, according to Trump's Truth Social network announcement. "Looking forward to this meeting; it should go smoothly," he added.
Economic Nudges Boost Wall Street
Trump spoke with Chinese President Xi Jinping for the first time since his second term began. Trump described their 90-minute discussion as "very productive," eventually leading to a "very favorable outcome for both countries." With trade negotiations on the horizon, the call came during the ongoing trade friction between Washington and Beijing.
At the beginning of April, Trump imposed 145% tariffs on China, prompting China to retaliate with high counter-tariffs. However, a truce was called mid-May, with both countries agreeing to significantly reduce tariffs for an initial 90 days to facilitate negotiation proceedings.
A Political Prelude
Insider: US Pauses Exports of Equipment for Chinese Nuclear Power Plants
Meanwhile, insiders in Washington claim that the US government has prohibited its nuclear suppliers from exporting equipment for Chinese nuclear power plants. The US Department of Commerce reportedly suspended relevant export licenses in recent days, affecting deals worth hundreds of millions of dollars, according to four sources who spoke with Reuters.
Neither the US Department of Commerce nor the Chinese embassy in Washington have responded to requests for comments on the restrictions on nuclear equipment exports. Last week, a spokesperson at the Department of Commerce mentioned a review of exports of strategically significant goods to China, stating that in some cases, the department had suspended existing export licenses or implemented additional licensing requirements while the review was in progress.
In the last two weeks, the US has imposed numerous new restrictions on exports to China, according to these insiders.
- Tariffs
- China
- USA
- Donald Trump
- Xi Jinping
- Nuclear power plants
Contextual Enrichment:
Amid the recent fluctuations, the US and China are working towards reducing trade friction and establishing a more stable trade relationship. The latest joint statement highlights specific actions regarding tariffs, with both countries agreeing to adjust duties on certain goods. China has also pledged to suspend certain additional tariff rates for an initial 90 days while maintaining a 10% rate. Representation in the discussions is led by He Lifeng, Vice Premier of the State Council from China, and Scott Bessent, Secretary of the Treasury, and Jamieson Greer, United States Trade Representative, from the US. Discussions will take place in a mutually agreed location, with working-level consultations also on the docket. While nuclear power plants are not directly mentioned in these recent talks, the focus remains on tariffs and trade relations. No official reports of recent phone conversations between former President Donald Trump and President Xi Jinping related to these trade talks are available at this time. The emphasis is on the official trade mechanism and its representatives moving forward.
- The community policy and employment policy of the United States may be impacted by the ongoing trade negotiations between the US and China, as any agreements could potentially influence business operations and finance within the country.
- The ongoing trade discussions between the US and China, involving key figures like Secretary of the Treasury Scott Bessent and US Trade Representative Jamieson Greer, also have implications for politics and general-news, as any agreements could have significant repercussions for both economies and international relations.
