Trade negotiations between American and Chinese delegates were scheduled for June 9 in London, the US leader said.
The United States and China will continue trade negotiations on June 9 in London. It was announced by President Donald Trump, Report Bloomberg.
According to him, US finance minister Scott Immord, the Minister of Commodity, Howard Latnik and the Jamison merchant representative, will meet on Monday “with Chinese representatives to discuss a trade agreement.”
The new cycle of negotiations will take place after a 90-minute phone conversation between Trump and the head of PRC XI Jinping, which took place on Thursday. During the conversation, the parties agreed to reduce stress.
Previous negotiations that took place in May in Switzerland graduated from a temporary truce in the tariff war between Beijing and Washington. This creates requirements for additional contacts. After a meeting in Geneva, negotiations became steadfast – both parties accused each other for violating agreements that allowed to reduce the duties that reached record levels.
The United States has expressed concern over the lack of magnets from rare-earthly critical metal for American electrical vehicles and defense systems.
China is angry with new restrictions on providing artificial intelligence chips of Huawei technologies, as well as other technology restrictions and accessing complications for foreign students.
After a phone conversation, Trump said he was obliged to continue the supply of rare soil magnets. According to Reuters, China has agreed to issue temporary export licenses to critical mineral suppliers for leading American automakers.
However, there are still questions about what concessions went to Trump’s talks with SI, which he himself started actively. The Chinese foreign ministry says Trump is sure: Chinese students want guests in the USA. Trump himself said that “for him will be an honor” to accept them.
The conversation between Trump and Si brought some hope for Wall Street about the possible decline of duties between the United States and the PRC, but the enthusiasm of investors was restrained.
As you know, the United States should temporarily reduce China’s goods from 145% to 30%, and China should reduce the duties of American imports from 125% to 10%. Countries also agreed to create a “mechanism for ongoing discussion of economic and trade relations.”
However, US president Donald Trump has accused China of violating a trade agreement that ended in early May following bilateral negotiations.
In this regard, China has also accused the United States for failing to comply with the joint agreement.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.