American and Chinese negotiators have agreed to return their commercial negotiations to the “right path” on a series of disputes and the threat of their collapse. This was stated by both parties after two days of negotiations in London, which ended on Tuesday (10 June) late in the evening. TASR reports this based on AP and DPA messages.
Details are not known. It seems that the meeting has been focused on finding a way to resolve disputes concerning the export of minerals and technologies that have shook the fragile ceasefire from last month. However, it is not clear whether there has been any progress on other questions, such as a significant trade surplus of China with the United States.
Deputy Minister of Trade and China representative for international trade Li Čcheg-Kang announced that In principle, both parties agreed on “the implementation of consensus achieved in May in Geneva’s talks”, It was introduced by the official Chinese news agency Sinchua. Further details, including any plans, did not disclose the potentially next round of interviews.
Li Čeng-Kang and Chinese trade minister Wang Wen-Tchao were part of a delegation led by Deputy Prime Minister Che Li-Feng. The American party was represented by the business Minister of the business Lutnick, Finance Minister Scott Bessent and the sales representative Jamieson Greer.
Li Čeng-kang marked negotiations in London for “Professional, rational, deep and honest exchanges of views”Sinchua said. Lutnick confirmed that the framework for the implementation of the Geneva consensus was agreed, the US media reported.
Both parties at the beginning of May at the Geneva negotiations agreed on 90-day reduction of the majority of high duties, that caused concerns about recession. The World Bank, referring to the increase in business obstacles, has reduced its forecasts of US and world economy this year. Former US sales negotiator Wendy Cutler said that both parties for disputes had been extinguished 30 out of 90 days to find an agreement.
While the negotiations in Geneva dominated duties, London discussions focused on export control. In April, China introduced restrictions on the export of key elements of rare earths and tightened the license process. Meanwhile, the US has limited the sale of advanced software for designing chips and other components and technologies to Chinese companies.
