Trump's trade talk delegation is set to face off with China's negotiators in London. Here is what's at stake.
Top Trump officials are meeting Chinese negotiators in London on Monday.
This would be the first official US-China talk since a temporary tariff truce on May 12.
International trade experts have said that Trump could be under pressure to strike a deal.
Three top Trump administration economic officials will face off against Chinese negotiators in a renewed effort to break the US-China trade deadlock.
Secretary of the Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, and Trade Representative Jamieson Greer will be meeting China's delegation in London on Monday.
"The meeting should go very well," President Donald Trump wrote in a social media post announcing the talks.
This coming meeting will be the first official talk between the two countries since they mutually lowered tariffs in a temporary truce on May 12, after talks in Geneva.
The renewed talks follow a 90-minute phone call between Trump and China's leader Xi Jinping on Thursday, a rare direct conversation that Trump later described as "very good." According to Trump, the two leaders also agreed to visit each other in person, without providing more details in terms of a timeline.
The Chinese Embassy of Washington did not respond to a request for who would be attending this negotiation from its side. The team they sent to Geneva consisted of Vice Premier He Lifeng, Vice Commerce Minister Li Chenggang, and Vice Finance Minister Liao Min.
Notably, Li has a Master of Laws from the University of Hamburg in Germany and has been part of China's delegation to the World Trade Organization since 2021.
International trade experts previously told Business Insider that much is at stake for both China and the US to strike a deal, or at the very least, continue the truce beyond August 12 when the 90-day tariff pause will expire.
"The Trump administration made their job harder because the tariff policies they've implemented are costly to Americans and American companies, and therefore, the market doesn't like it," said Philip Luck, director of the CSIS Economics Program. "They are under a lot of pressure to do things fast."
Meanwhile, a lawsuit that threatens to undo all of Trump's tariffs enacted under the IEEPA also looms over negotiations with China.
Drew DeLong, lead in geopolitical dynamics practice at Kearney, a global strategy and management consulting firm, told BI that if the court strikes down tariffs before trade deals could come to pass, other routes of imposing tariffs could be more complicated and time-consuming.
The White House did not provide Business Insider with any additional comment beyond Trump's Truth Social post.
Read the original article on Business Insider
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
23 minutes ago
- Yahoo
Solana 's SOL Rebounds as Buyers Step In Above $147
SOL SOL showed renewed strength Saturday as it rebounded from a low of $147.13 to trade back above $151, despite lingering global macroeconomic headwinds. The recovery comes amid a spike in on-chain activity, with Coin Days Destroyed surging to 3.55 billion—its third-highest level this year—indicating movement of long-dormant tokens. The bounce off $147 confirmed a bullish double bottom pattern, supported by rising volume and a return to a short-term bullish channel on the 6-hour chart. Solana now faces overhead resistance near $152.85, where sellers previously stepped in, but a move above that level could open the door toward the $155–$157 zone. While Solana's network fundamentals remain strong, the broader macro environment continues to inject volatility into crypto markets, with ongoing US-China tariff disputes and rising global bond yields weighing on investor confidence. Technical Analysis Highlights SOL rallied from $147.13 to $152.94, gaining 3.95% intraday. Double bottom formed near $147.50, signaling a potential trend reversal. Resistance is developing at $152.50–$153.00, capping upward momentum. Bullish channel seen on 6-hour chart, with volume rising on green candles. Coin Days Destroyed spiked to 3.55 billion, its third-highest reading in 2025. Price dropped slightly in the last hour from $152.51 to $151.77 (0.48%). Hourly chart shows bearish engulfing pattern; $150.85 is near-term support. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Miami Herald
30 minutes ago
- Miami Herald
Surprising Trump-Musk rift worsens a huge Tesla problem
Tesla CEO Elon Musk and President Donald Trump appear to be in the kind of chaotic relationship that social media lives to warn you about. First the two seemed to be enjoying a business alliance-turned-bromance when Musk was invited to become a special government employee in January and spearhead the Department of Government Efficiency (DOGE). Don't miss the move: Subscribe to TheStreet's free daily newsletter The pair cheerily appeared together in photographs as well as in the Oval Office, and they seemed to be harmoniously working together. Musk even donned a red baseball cap that read "Trump was right about everything," which sent a pretty clear statement about the billionaire's beliefs. Related: Elon Musk latest message sends Tesla stock surging Of course, things can change. And when Tesla's (TSLA) sales plummeted 71% as reported during its first quarter earnings call, Musk's tune began to do just that. The Tesla CEO said he would refocus on the EV business, and not long after, he announced he would be stepping away from DOGE entirely. Soon after that shift, Musk suddenly started to take shots at Trump's "big beautiful bill" on X, first disagreeing with it and then seemingly escalating the issue to an all-out war against the president. Now the two have been trading barbs and threats alike, and while it looks like they're having some sort of weird breakup spat that's bristling with resentment, the whole thing is having a bad effect on a situation that Musk promised he would work to repair. Image source: STR/AFP via Getty Images Tesla's reputation has taken a beating this year. Musk's involvement with President Trump and the government rubbed many the wrong way, leading the stock to tank in mid-March when Musk was heads down on the DOGE project. What followed was a rash of people either demonstrating outside Tesla dealerships, vandalizing them, or both. Tesla owners, uncomfortable at being yelled at on the streets, started to offload their cars. Related: Forget tariffs, automakers face an even bigger threat from China Meanwhile, Tesla sales are dropping fast in key markets such as Europe and California. "Tesla's sales in Europe dropped 49% year-over-year in April to 7,261 vehicles, according to the European Automobile Manufacturers' Association. Meanwhile, total EV sales in the region rose 34%. So far, Tesla's Europe unit volume is down nearly 40% through the first four months of this year," TheStreet's Todd Campbell reports. Musk's public spat with Trump, including posting the whole thing on social media rather than having private conversations with the president, comes off as attention-seeking and inappropriate for a person of his status. And while the president has responded more or less in kind, it's really Tesla that will suffer further, as Trump is known for his outbursts, and they don't stand out that much from his regular behavior. Tesla, however, had already been beaten down by Musk's involvement with the GOP. While Musk is clearly trying to separate himself from Trump with these moves, the way he's handling them reflects poorly on his plans to reinvigorate the EV brand. It's exactly the move Tesla didn't need at this moment. Trump, in the meantime, has decided he has bigger things to focus on, telling CNN today, "I'm not even thinking about Elon. He's got a problem. The poor guy's got a problem." Related: Analyst says Tesla faces one big beautiful hit from Trump bill The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Yahoo
an hour ago
- Yahoo
'Haven't given up': minister seeks tariff breakthrough
Australia's trade minister remains confident tariffs imposed by the US will be removed, ahead of a likely meeting between Anthony Albanese and Donald Trump. The two leaders could meet on the sidelines of the G7 summit in Canada next week, with the economic measures imposed by the US president around the world set to dominate discussions. As Australia looks to negotiate for an exemption on tariffs, Trade Minister Don Farrrell was optimistic a deal could be reached. "I certainly haven't given up on the prospect of getting these tariffs removed, and every opportunity I get, I'll continue to pursue that argument with the United States," he told Sky News on Sunday. "There is no justification for the United States to impose tariffs on Australia ... we want all of the tariffs removed, not just some of them." Mr Trump recently signed off on doubling tariffs on exports on steel and aluminium from 25 to 50 per cent. All other Australian exports to the US have been slapped with a 10 per cent tariff. Senator Farrell met with US trade representative Jamieson Greer last week and said he pushed the case for all of the economic measures to be removed. The minister was hopeful a similar approach that removed $20 billion worth of tariffs on Australian goods entering China could be used with America. "We didn't retaliate on that occasion, and bit by bit, we managed to get all of those tariffs that had been applied on Australia by China removed. I'd like to do the same with the United States," he said. "It's only by open discussion, honest discussion with out allies in the United States that I think we can do that." As the US Defence Secretary Pete Hegseth urged Australia to increase its defence spending by billions of dollars to 3.5 per cent of GDP, Senator Farrell said the federal government had already proved its commitment through the AUKUS submarine deal. Australia is looking to up its total spent on defence to 2.3 per cent. "We are committed to the defence of this country, we are committed to a significant uplift in the amount of spending," Senator Farrell said. "(AUKUS) is going to be a project that's worth more than $360 billion, so I think we've talked the talk." Prime Minister Anthony Albanese signalled on Friday negotiations on opening up access to US beef into Australia could be on the table as part of tariff negotiations. However, he said biosecurity would not be compromised in order to reach an agreement.
