China and US commerce officer to have talks in London

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The best trade officials of US President Donald Trump will meet their Chinese colleagues in London on Monday to get talks to solve a continuing trade dispute between the two largest economies in the world.

US Finance Minister Scott Bessent, Minister of Commerce Howard Lutnick and sales representative Jamieson Greer represent the USA

China's Ministry of Foreign Affairs announced on Saturday that the vice premier Lifeng, Beijing's senior commercial negotiator, will be in Great Britain between June 8th to 13th and that a meeting of the “China-US economic and trade consultation mechanism” would take place.

The talks came to Trump last week that he had held a long call with the Chinese President Xi Jinping to avert a full -grown trade war.

The diplomatic efforts of both sides have increased after weeks of increased trade voltage and uncertainty after Trump announced extensive import duties for China and other trading partners in April.

Beijing returned, and there was a Titat-Tat escalation in the duties before both sides agreed in Geneva in May to temporarily lower the tasks for 90 days and to facilitate discussions. At that time, the US tariff for Chinese imports was reduced from 145% to 30%, while Chinese taxes for US imports were reduced from 125% to 10%.

China and the United States have repeatedly accused each other against the Geneva Agreement, with Washington said that Beijing had only slowly approved the export of additional critical minerals in the United States, while China criticized the United States that imposed new restrictions on Chinese students and additional export restrictions on chips.

The American press spokesman Karoline Leavitt said on Sunday that the London talks would concentrate on promoting the Geneva Agreement and determining the strategic interests of the two sides at the other's markets.

No quick solution

Analysts say that Monday talks are probably not much progress in solving disagreements and sector -specific tariffs for a number of strategic industries that range from technology and critical minerals to production and agriculture.

Rebecca Harding, Managing Director of the Center for Economic Security, told CNBC on Monday that China and the United States “are currently in an existential struggle”.

“There is absolutely no other way to describe all of this, and this is about how data flow. It's about information. It's about AI. It is about technology. It is also about defense. China is currently expanding its ammunition production.

“There is a lot, much more than just the trade and what is going on in this domain between the two countries. It is about how they do their economies. This just starts and it is effectively a struggle for the 21st century,” she added.

Zhiwei Zhang, President and chief economist of Pinpoint Asset Management, Optimistic that discussions will take place at all, CNBC said that it could take months before trade voltages could be solved.

“I have no very high expectations of these trading talks … I doubt that they will soon get an agreement,” he told CNBCS China Connection on Monday.

“There could be a solution for certain topics, such as a rare earth, for example China already announced that they will issue foreign companies that apply for imports. Now we will come out of some of them. However, I will doubt that we will have a complete solution that comes from this dialogue in Great Britain,” added Zhang.