Today, Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent, and U.S. Trade Representative Jamieson Greer will lead U.S-China trade negotiations in London, focusing on rare earth minerals.
The talks come as tensions have escalated between the two sides, with each accusing the other of violating their recent Geneva agreement.
Leading up to negotiations, President Donald Trump described a call with Chinese leader Xi Jinping as “very good” and expressed confidence that the ongoing talks with China will go “very well” since they are already “very far advanced.”
Speaking to the media on Sunday, National Economic Council Director Kevin Hassett stated he is “very comfortable” with the pending trade deal as the U.S. aims to restore the flow of rare minerals from China used in chip and electronic manufacturing.
“We want the rare earths, the magnets that are crucial for cell phones and everything else to flow just as they did before the beginning of April, and we don’t want any technical details slowing that down,” Hassett said.
“All of our policies together are reducing inflation and helping reduce the deficit by getting revenue from other countries,” he concluded.
The Treasury Department reported that April saw a record $16.3 billion in gross customs duties, a significant increase from the $8.75 billion collected in March.
By CEO NA Editorial Staff
