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China and USA: groundbreaking trade meeting started in London!
Chinese and US business leaders meet in London to strengthen trade ties. Focus on progress and consensus.
China and USA: groundbreaking trade meeting started in London!
On June 9, 2025, the first meeting of the China-US Economic and Trade Consultative Mechanism was held in London. The event was attended by Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent. He Lifeng, who is also a member of the Politburo of the Central Committee of the Communist Party of China, emphasized the importance of a practical approach to problem-solving and promoted open dialogues and equal consultations reports Xinhuanet.
At the high-level meeting, which was described as “open and constructive,” delegations from both countries posed for a group photo. Bessent noted that significant progress has been made in the trade talks and praised the productive atmosphere of the talks reports The Economic Times.
Strengthening economic ties
The main aim of the consultation mechanism is to manage differences, explore cooperation potential and strengthen China-US economic relations. The Chinese Embassy in the US made it clear during the meeting that China is ready to actively implement the consensus reached in the January 17 phone call between the two heads of state.
Earlier on Sunday, the US government announced a trade agreement with China in Geneva. Another highlight of the negotiations was the finding that the parties quickly reached an agreement, suggesting that the differences may not have been as great as assumed.
Trade deficits and tariff policy
US Trade Representative Jamieson Greer pointed out that the US has a trade deficit of $1.2 trillion. This was cited as one of the reasons for the national emergency and the imposition of tariffs. In this context, US President Donald Trump appeared open to a significant reduction in the 145 percent tariff on Chinese goods and described a tariff of 80 percent as appropriate.
These developments in China-US trade demonstrate the efforts of both sides to reach solutions that are in the interests of both nations through clear dialogue and constructive discussions.