U.S. President Donald Trump said on Monday that he received positive updates from trade talks between American and Chinese officials held in London.
Speaking at an investment event at the White House, Trump responded to questions from reporters regarding the ongoing negotiations. “We’re doing very well with China,” he said, adding that he expects a follow-up call from the U.S. delegation later in the day.
Trump noted that opening U.S. companies to the Chinese market would be “great for China and great for the rest of the world,” although he did not give a definitive answer on whether export controls on China would be lifted, simply stating, “We’ll see.”
The London talks followed a phone conversation last week between President Trump and Chinese President Xi Jinping. Delegations from both countries met earlier today and are expected to continue discussions tomorrow.
The U.S. team is represented by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer. The Chinese delegation is led by Vice Premier He Lifeng.
Trade tensions between the two nations have intensified in recent months, with both sides imposing steep tariffs. The U.S. increased tariffs on Chinese goods to as much as 145%, while China responded with up to 125% tariffs on American products.
Efforts to ease tensions included last month's negotiations in Geneva, where the two sides agreed to a 90-day tariff reduction period. However, on May 30, Trump accused China of violating large parts of the Geneva agreement and expressed hope for a resolution in further talks with Xi.
Washington has also criticized Beijing for maintaining restrictions on rare earth exports, prompting the U.S. to impose export controls on artificial intelligence chips and related software. The administration also announced plans to revoke visas for Chinese students involved in sensitive research fields or those linked to the Chinese Communist Party.
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