#USChinaTradeTalks **US-China Trade Talks Kick Off in London 🇺🇸🇨🇳**
High-level trade talks between the **US** and **China** began today at **Lancaster House, London**, aiming to ease tensions in their ongoing **trade war**. 🏛️
### 🔑 **Key Points:**
- **Delegations:**
- **US** team led by **Commerce Secretary Howard Lutnick**, **Treasury Secretary Scott Bessent**, and **Trade Representative Jamieson Greer**.
- **China** represented by **Vice Premier He Lifeng** and **Commerce Minister Wang Wentao**.
- **Focus Areas:**
- **Chinese rare earth exports** (critical for tech like smartphones & EVs) 🚗📱
- **US restrictions** on semiconductors & AI tech. ⚙️🤖
- **Background:**
- May truce in **Geneva** lowered **US tariffs** on Chinese goods (145% → 30%) and **Chinese tariffs** on US goods (125% → 10%).
- **90-day deadline** to finalize a deal. Both sides accuse each other of **breaching non-tariff pledges**. ⏳
- **Recent Developments:**
- China approved **some rare earth export licenses**, but the US claims progress is **too slow**. 🐢
- **Trump & Xi** had a "very positive" call last week, setting the stage for progress. 📞
- **Expectations:**
- White House’s **Kevin Hassett** predicts a **"big, strong handshake"** to ease **US export controls** and boost **rare earth flows**. 🤝
- **Advanced chip restrictions** may remain.
### 💬 **Expert Insight:**
**Swetha Ramachandran (Artemis):**
*"China mines **69% of global rare earths**, critical for US tech. There’s enough on the table for both sides to walk away with wins."*
### ⚠️ **Economic Impact:**
- **OECD warns** Trump’s tariffs could slow **global growth to 2.9%**. 📉
- **China’s May exports** (+4.8%) underperformed, while **imports dropped (-3.4%)**.
**Will these talks stabilize global markets? Stay tuned!** 📈🔍