Three senior U.S. officials will meet their Chinese counterparts in London on Monday to discuss escalating trade tensions between the world’s two largest economies. The meeting comes as global markets remain volatile amid fears of further economic fallout.
President Donald Trump announced the talks on his Truth Social platform, naming Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and U.S. Trade Representative Jamieson Greer as the American delegation. He did not provide further details. Chinese representation at the talks has not yet been confirmed, and neither the White House nor the Chinese Embassy in Washington have commented.
“The meeting should go very well,” Trump posted, striking an optimistic tone just days after a rare direct phone call with Chinese President Xi Jinping. The two leaders reportedly agreed to exchange visits and tasked their teams with ironing out issues in the meantime.
The talks follow a preliminary deal reached in Geneva on May 12, where both nations agreed to roll back portions of the steep tariffs imposed since Trump’s return to the White House in January. That 90-day truce spurred a rally in global stock markets, with the S&P 500 recovering nearly all its losses from earlier in the year.
Despite the economic boost, the truce has not resolved deeper tensions over issues such as Taiwan, China’s economic policies, and the illicit fentanyl trade. Both countries are also locked in a standoff over critical minerals, with China dominating the export of rare earths and the U.S. restricting exports of key technologies such as chip-design software and nuclear components.
Trump’s unpredictable trade strategy—marked by threats and last-minute reversals—has unsettled global allies and investors. Critics say the administration’s approach lacks consistency, while supporters argue it is forcing long-overdue reforms.
Beijing, meanwhile, is under pressure as its leverage in mineral exports could backfire if U.S. industries stall and public backlash mounts. The Biden-era focus on China as America’s chief geopolitical rival continues under Trump, with both military and economic competition intensifying.
The outcome of Monday’s talks in London may shape the trajectory of U.S.-China relations—and global markets—for months to come.
reuters/s.s