US hints at reprieve on some tech export restrictions as talks with China begin in London
National Economic Council chief Kevin Hassett says he expects Beijing to ramp up rare earth mineral exports to American markets
Top economic officials from Washington and Beijing launched a high-stakes round of trade talks in London, with a senior White House official signalling soon after the start that the US would ease some tech export restrictions on China, adding that he expected the Chinese government to ramp up rare earth mineral exports to American markets.
The Chinese and American delegations – led by Chinese Vice-Premier He Lifeng, alongside US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer – met Monday afternoon, according to Xinhua.
The negotiations in London are expected to stretch into Tuesday.
Asked whether he had received any updates from his negotiators, US President Donald Trump said at the White House on Monday that he was “only getting good reports”, adding that “they’ll be calling in soon”.
“In fact, probably when I get back, I’ll have my first call from them,” Trump said.
He said his administration aimed to “open up” China.
“It’ll be a great thing for China, great thing for the rest of the world.”