Treasury secretary Bessent leaves China trade talks; negotiations continue

U.S. Treasury Secretary Scott Bessent left ongoing trade talks with China on Tuesday to return to Washington, D.C., where he is scheduled to testify before Congress.

Bessent said the negotiations, held at Lancaster House near Buckingham Palace in London, have been productive so far. He confirmed that Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer will stay in London to continue talks with the Chinese delegation.

The trade talks come at a sensitive time in the ongoing U.S.-China trade tensions. Key issues include easing U.S. export controls on China in exchange for Beijing opening up exports of rare earth minerals vital for tech industries.

China’s delegation includes Vice Premier He Lifeng, Commerce Minister Wang Wentao, and lead trade negotiator Li Chenggang. Both sides aim to reach an agreement that could ease trade frictions after recent tariff reductions agreed in Geneva.

Lutnick said earlier that both parties were “trying to finish” the talks by Tuesday evening, but discussions are continuing as needed.

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