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The recent London talks between the US and China, which concluded on June 13th, appear to be just the initial phase in a broader effort to bridge their trade differences. Reports indicate that while the talks in London aimed to build on a temporary truce established in Geneva last month, significant challenges remain. Key issues discussed included China's rare earth exports and US restrictions on advanced technology sales to China, particularly in semiconductors and AI. Both sides have accused each other of not fully adhering to the May Geneva agreement, which involved temporary tariff reductions. The US is pushing for China to ease rare earth export limitations, while China is seeking looser US controls on tech. The London talks, despite their focus on securing agreements on these critical areas, are largely seen as a move to stabilize the relationship and prevent further escalation of trade tensions rather than a complete resolution. The expectation is that further negotiations will be needed to tackle the deeper structural issues and trade imbalances that continue to strain the bilateral relationship. This ongoing dialogue, however, is crucial for global economic stability.

Here are the key highlights from the first China–U.S. high-level economic and trade consultation meeting in Geneva on May 10–11, 2025: --- 🇨🇳 Chinese Leadership Vice‑Premier He Lifeng described the dialogue as “candid, in‑depth and constructive” and emphasized that both countries: Reached a series of major consensuses. Agreed to establish a new economic and trade consultation mechanism for ongoing dialogue . Are committed to addressing trade differences “through equal dialogue and consultation,” aiming to “make the pie of cooperation bigger” by expanding areas of bilateral cooperation . Warned that while China doesn’t seek a trade war, it "will not be afraid" to defend its interests if necessary . The Ministry of Commerce stated that the joint declaration is “an important step toward resolving differences,” and that both sides have agreed to suspend 24 percentage points of reciprocal tariffs (covering about 91 percent of additional duties imposed) for 90 days . --- 🇺🇸 U.S. Leadership Treasury Secretary Scott Bessent said the two-day talks were “productive” and that they showed substantial progress; he also praised the Swiss hosts for enabling a “great deal of productivity” . Trade Representative Jamieson Greer emphasized how quickly both sides reached agreement: > “This was … a very constructive two days… reflects that perhaps the differences were not so large as maybe thought.” He also noted the agreement will help address the U.S. $1.2 trillion trade deficit, calling the deal **a step toward resolving that “national emergency”** . --- 📦 Tariffs & Consultations Tariff rollbacks: U.S. agreed to suspend 24 pp of new ad valorem duties, retaining a 10 percent baseline; China reciprocated by suspending equivalent duties . Institutional framework: A mechanism was established—led by He Lifeng for China and Bessent & Greer for the U.S.—with working‑level teams to meet regularly in either country or a third location . --- ✅ Why This Matters Lays groundwork for de-escalation in the tariff tensions that marked the first quarter of 2025 . Reflects both governments’ recognition that prolonged trade conflicts have global costs, including supply‑chain shocks and higher consumer prices . Signals renewed multilateral diplomacy, with He urging reliance on WTO principles to handle future disputes . --- Summary Table Theme China (He/Lifeng & Commerce Ministry) U.S. (Bessent & Greer) Tone Candid, in‑depth, constructive. Productive, quick progress. Tariff Relief 24 pp suspension on ~91 % of reciprocal tariffs. Matching tariff rollbacks. Consultation Mechanism Yes—ongoing high‑level and working‑level mechanism. Yes—led by Bessent & Greer. Purpose Resolve differences, expand cooperation, support global trade stability. Help address U.S. trade deficit; workable progress from groundwork laid. Warning China will respond firmly if U.S. continues unilateral tariffs. — --- In essence, this inaugural consultation yielded substantive tariff relief and set up a permanent dialogue channel. It marks a shift from brinkmanship toward structured negotiation—an important move not just for the bilateral relationship, but also for global economic stability. Let me know if you’d like more details on any specific aspect—tariff specifics, the mechanics of the consultation mechanism, or implications for global trade.

China and the United States met in London this week for their first official consultation meeting, signaling a cautious move to reduce tensions and reestablish diplomatic dialogue. The discussions touched on critical issues such as trade disputes, military activity, and technological competition. No agreements were signed, but both sides agreed that consistent communication is essential moving forward. By choosing London as neutral territory, both nations aimed to reset the tone of engagement. While challenges remain, this meeting marks a small but meaningful step toward rebuilding trust.

In a move to rebuild strained ties, China and the United States held their first formal consultation meeting this week in London. The talks aimed to reopen diplomatic channels and reduce tensions over trade, security, and technological competition. While no concrete agreements were reached, both sides emphasized the value of open dialogue and committed to future engagements. The use of London as neutral ground highlights a shared interest in constructive diplomacy. Though only an initial step, the meeting signals a potential shift toward more stable and predictable relations.

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