#USChinaTradeTalks What is happening now

• A high-level meeting is taking place today in London, at Lancaster House, bringing together key representatives from the USA—Scott Bessent, Howard Lutnick, Jamieson Greer—and China's Vice Premier, He Lifeng.

• The goal is to advance the terms of the truce established in Geneva on May 12, which temporarily reduced tariffs (from 145% to 30% in the USA, and from 125% to 10% in China) for a period of 90 days.

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🔑 Key topics under discussion

• The main focus is on rare earth exports.

• The USA accuses China of delaying commitments made after Geneva.

• China, in turn, insists on maintaining strategic control over these resources.

• Also being discussed:

• Restrictions on semiconductors

• Control of fentanyl precursors

• Open market reforms

• However, China shows little willingness to abandon its state-centered economic model.