US-China trade talks are happening TODAY in London! 🇺🇸🇨🇳
Key Players:
- US Delegation: Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and USTR Jamieson Greer
- China: Vice Premier He Lifeng
What's on the Table:
- Rare Earths & Export Controls: China controls 99% of rare-earth processing and has halted exports, citing strategic concerns. The US seeks relief to protect supply chains.
- Tech & Semiconductors: Washington's expanded export bans targeting sectors like AI and companies like Huawei have provoked Beijing.
- Wider Tensions: Issues like student visa restrictions, Taiwan, and fentanyl trafficking complicate trade-focused diplomacy.
Market Response:
- US markets traded flat to slightly lower
- Asian markets showed optimism: Kospi +1.9%, Nikkei +1.1%
- Oil prices steady at ~$66/barrel, buoyed by hopes for trade de-escalation
Let's see how these talks unfold!