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Senior US and Chinese negotiators have agreed on the system to return to trade negotiations after a series of disputes that threatened to divert them, both sides have announced.
The announcement came after the end of two -day talks in the British capital, which crashed at the end of Tuesday.
Meetings seem to focus on a way to resolve disputes over mineral and technology exports that had shaken the trade in fragile ceasefire last month, which was achieved in Geneva. It is unclear whether progress has been made to more significant differences compared to China’s significant trade surplus with the United States.
“First of all, we had to do some kind of negativity, and now we can go ahead,” US trade secretary Howard Lutnik told reporters.
Asian stock markets increased on Wednesday following an agreement.
The conversations followed a phone call between President Donald Trump and Chinese leader XI Jinping last week to try to calm the waters.
Li Chengang, Vice President of Trade and China’s international trade, said both parties had in principle agreed on an agreement to implement a consensus on the phone call and talks about Geneva, the official news agency Sinhua said.
Details, including all plans for the potential next round, were not immediately available.
Li and Wang Wento, the Chinese Minister for Trade, were part of a delegation led by Prime Minister He Lifeng. They met Lutnik, Treasury Secretary Scott Bessent and Trade Representative Jamon Greer Lancaster House, a 200 -year -old mansion near Buckingham Castle.
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Former US trade negotiator, Wendy Cutler, said disputes had been detached 30 of 90 days when both sides have to try to resolve their disputes.
In Geneva, they agreed on a 90 -day suspension for most of the 100 percent plus tariffs they had imposed on each other in a growing trade war, which led to fear of a recession. The World Bank, referring to the growth of trade obstacles, reduced its forecasts this year to the US and the global economic growth.
“The United States and China lost a valuable time to restore its Geneva treaties,” said Kuter, now a vice president of the Asian Society Policy Institute. “There are still only sixty days to address concerns, including unfair trade practices, excessive power, handling and fentanyl.”
Since Geneva’s talks in the United States and China have exchanged angry words about advanced semiconductors in force for artificial intelligence, visa Chinese students at American universities and rare earth minerals, which are essential for car manufacturers and other industries.
China, the world’s largest rare earth manufacturer, has announced that it can accelerate elements of export licenses. Beijing, on the other hand, wants the US to increase the restrictions on Chinese access to technology used to create advanced semiconductors.
Lutnik said that resolving a rare earth issue is a key part of the harmonized framework and that the US would remove the measures it was imposed in response. He did not specify which events.
“When they confirm the licenses, you should expect our export introduction to decline,” he said.
Cutler said the US would be unprecedented with talks on its export control, which she described as irritating China for almost 20 years.
“In doing so, the United States has opened its doors to China to speak on adding export control to future negotiations,” she said.
In Washington, the Federal Court of Appeal on Tuesday agreed to allow the government to continue to collect tariffs that Trump has put not only to China but also to other countries around the world, while the administration appeals to the decision on his signature trade policy.
Trump previously said he wanted to “open China”, the world’s dominant manufacturers in US products.
“If we don’t open China, maybe we’ll do nothing,” Trump said in the White House. “But we want to open China.”
– –Moritsugu was reported from Beijing. Associated Press writers Josh Boak and Paul Visman participated in this story in Washington.
& Copy of 2025. The Canadian Press
