The Importance of the Talks for the World Economy
The upcoming trade talks between the USA and China, starting on June 9, 2025, in London, are crucial for the world economy and the relationship between the two largest economies in the world. Kevin Hassett, head of the National Economic Council at the White House, has expressed optimism about the chances of success for these talks, even if they are of short duration.
Significant Topics of Discussion
Tariffs and Trade Disputes: Historically, the USA and China have imposed significant tariffs on each other, leading to an intense trade war. Despite a temporary tariff reduction agreement in May 2025, there remain disagreements regarding compliance.
Rare Earths and Technology: China’s export controls on rare earths, essential for numerous technologies, are also a focal point. The USA is demanding the resumption of supplies, while China cites security concerns.
Expectations and Goals
Hassett emphasizes that even brief talks can yield significant progress, indicating both nations’ willingness to break the deadlock. A potential agreement could stabilize global markets.
Participants and Organization
The US delegation is led by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer. Vice Premier He Lifeng represents the Chinese side in the talks in London, initiated by the British government.
These talks are critical for the future of trade relations between the USA and China and could have far-reaching effects on the global economy.