Top U.S. and Chinese officials are scheduled to meet in London on Monday in a renewed effort to ease a prolonged trade standoff between the world’s two biggest economies. The high-level discussions come as global markets remain volatile under the shadow of ongoing tariff battles and strategic disputes.
Representing the United States will be Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer. The announcement was made by former President Donald Trump via his Truth Social platform, although no further specifics were shared.
On the Chinese side, Vice Premier He Lifeng will be in the UK from June 8 to 13. China’s Foreign Ministry confirmed that the first official session of the recently established China-U.S. economic and trade consultation mechanism will take place during his stay.
“The meeting should go very well,” Trump stated optimistically in his post.
This round of dialogue follows a direct phone conversation between Trump and Chinese President Xi Jinping earlier in the week—a rare occurrence between the two leaders since tensions flared again. Both leaders agreed to visit each other and instructed their negotiating teams to push forward with discussions in the meantime.
The pressure is mounting on both countries to de-escalate. Global supplychains and financial markets have been unsettled by China’s tight grip on rare earth exports—vital for tech and defense manufacturing—as well as by the Trump administration’s sweeping tariffs on international goods. At the same time, China has been affected by U.S. restrictions on crucial imports, including advanced chip-design tools and nuclear equipment.
In May, both countries reached a provisional agreement in Geneva to ease many of the retaliatory tariffs, which had reached triple-digit levels. That temporary truce spurred a global stock market rebound, with the S&P 500 clawing back almost all of its earlier losses. The index, which had fallen by nearly 18% in early April following Trump’s announcement of his "Liberation Day" tariffs, now hovers just 2% below its pre-conflict peak.
Still, the Geneva agreement left many key issues unresolved, such as U.S.concerns over China’s state-centric economic practices, the cross-border fentanyl trade, and Beijing’s stance on Taiwan.
Trump’s unpredictable approach—announcing tough trade actions only to backtrack at the last moment—has created widespread uncertainty among international leaders and business communities alike.
Meanwhile, Beijing views its mineral export dominance as a powerful bargaining chip. Any move to restrict supply couldcreate economic challenges for Trump domestically if U.S. manufacturers dependent on those materials face production slowdowns.
Washington has increasingly positioned China as its primary strategic and economic rival—one with the potential to challenge U.S. influence both globally and militarily. The upcoming talks in London will be closely watched as a litmus test for whether dialogue can still ease tensions in an era of intensifying rivalr.