U.S. Treasury Secretary Scott Bessent has concluded his participation in the ongoing trade negotiations with China, departing from London on June 10, 2025, to testify before Congress the following day.
Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer will continue the talks in London. Bessent noted that discussions would carry on after two intensive days of negotiations.
Lutnick expressed optimism earlier, stating that the teams were “trying to finish” by Tuesday evening. Bessent described the discussions as “productive” as he left the historic Lancaster House, the venue for the talks, emphasizing that the remaining negotiators would proceed with the Chinese delegation as planned.
These discussions mark the second meeting in recent months between the two economic giants as they address significant differences amidst a turbulent trade relationship. The key issues on the agenda include the potential easing of U.S. export controls to China in return for Beijing’s commitment to enhance its export of critical minerals known as rare earths.
The contentious topics of rare earths and export controls surfaced following trade talks in Geneva, Switzerland, where both nations had recently paused many tariffs on each other’s products.
The Chinese delegation features notable figures, including Vice Premier He Lifeng, Commerce Minister Wang Wentao, and chief trade negotiator Li Chenggang.
This is a developing story, and updates will be provided as more information becomes available.