A new round of talks will be held in Britain next week to resolve the ongoing trade war between the US and China. President Donald Trump has informed through his social media platform Truth Social that the American delegation is going to London for the high-level talks scheduled for next Monday.
The Chinese government has also confirmed that Deputy Prime Minister He Lifeng will stay in the UK from June 8 to 13 and talks will be held under the 'China-US Economic and Trade Mechanism', according to the BBC. After the telephone conversation between Trump and President Xi Jinping last week, the way for these talks was opened. Trump responded that he had a "very good conversation" with Xi.
Last May, US and Chinese representatives held talks on this matter in Switzerland. At that time, both of them had a temporary agreement to reduce taxes . Accordingly, the United States reduced the tax on Chinese goods to 30 percent. China also promised to reduce tariffs on US goods to 10 percent and open up exports of some important minerals.
However, recently both parties have been accusing each other of violating the agreement . The US has accused China of not starting the supply of 'rare earth materials' and other important minerals. China has been claiming to allow some exports.
According to Trump, US Treasury Secretary Scott Besant, Commerce Secretary Howard Lutnick and Trade Representative James Greer will participate in the talks in London. According to the Chinese news agency Xinhua, Xi told Trump that the United States should withdraw the negative measures taken against China. It is being analyzed that China intends that the US should take the initiative to improve relations by removing high import taxes, sanctions or other trade pressure measures.
