Trade talks between the U.S. and China will begin in London on Monday in an effort to resolve the trade war.
The U.S. delegation includes Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Gree, CNBC reported. The Chinese foreign ministry said on Saturday that Vice Premier He Lifeng, the country’s lead trade negotiator, will be in the U.K. this week and that a meeting of the “China-U.S. economic and trade consultation mechanism” would take place.
National Economic Council Director Kevin Hassett told CNBC on Monday that the U.S. wants China to confirm it will export additional critical minerals to the U.S.
“The purpose of the meeting today is to make sure that they’re serious, but to literally get handshakes… and get this thing behind us,” Hassett said.
He said he expects it “to be a short meeting with a big, strong handshake.”
“Our expectation is that… immediately after the handshake, any export controls from the U.S. will be eased, and the rare earths will be released in volume, and then we can go back to negotiating smaller matters,” Hassett added.
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Author: Faith Novak
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