"Looks promising" Trump announces Monday's trade negotiations with China
Discussions on custom matters with China scheduled for Monday by Trump
After a phone call with Chinese President Xi, Trump is pushing for a resolution in the trade feud with Beijing. New talks are set for Monday, which Trump is already hyping up. Meanwhile, Washington is said to have ceased supplying spare parts for Chinese nuclear power plants.
In the ongoing trade dispute with China, US President Donald Trump has announced new talks between the two countries in London for next week. US Treasury Secretary Janet Yellen, Commerce Secretary Gina Raimondo, and Trump's trade representative, Katelyn McCullough, will meet a Chinese delegation in the British capital on Monday, Trump announced on his Truth Social network. "Looks promising," he added.
Trump had his initial phone call with Chinese President Xi Jinping since the start of his second term on Thursday. The US President considered the approximately one-and-a-half-hour conversation as "fantastic" and said it ended with "a very positive outcome for both countries." Trade delegations from both sides will soon reconvene.
Biz Buzz: Wall Street confident amid trade talks
The trade conflict between Washington and Beijing has been a thorn in the side for several months. In early April, the US President imposed a total of 145 percent tariffs on China, to which Beijing responded with high retaliatory tariffs. However, in mid-May, the two countries agreed to significantly reduce tariffs for an initial 90 days to facilitate negotiations.
Political Thaw
Donald Trump and Xi Jinping have had heated conversations in the past, but recent discussions have proved to be more cooperative.
Insider: USA halts supply of equipment for Chinese nuclear power plants
Meanwhile, it was leaked in Washington that the US government has prohibited nuclear suppliers from selling equipment to Chinese nuclear power plants. The US Commerce Department has ordered the suspension of relevant licenses in recent days, four individuals with knowledge of the matter told Reuters. This applies to the export of parts and equipment used in nuclear power plants. Two of the individuals stated that deals worth hundreds of millions of dollars are impacted.
Economic Shift: Relief for U.S. automakers
The US Commerce Department did not respond to a request for comment on the restrictions on nuclear equipment. Last week, a spokesperson said the department was evaluating exports of strategically essential goods to China. "In some cases, the Commerce Department has suspended existing export licenses or imposed additional licensing requirements while the review is ongoing," the spokesperson said. The Chinese embassy in Washington did not respond to a request for comment.
Most U.S. automakers have breathed a sigh of relief as China has removed additional tariffs on vehicle imports since the trade talks resumed.
Source: ntv.de, mau/AFP/rts
- Tariffs
- China
- USA
- Donald Trump
- Xi Jinping
- Nuclear power plants
Enrichment Data:
Current Status of U.S.-China Trade Talks
As of early May 2025, the U.S. and China have engaged in trade talks in Switzerland, which President Donald Trump described as yielding a "total reset" in their trade relationship. These talks are part of ongoing efforts to address the escalating trade tensions between the two nations, which have resulted in significant economic impacts.
Recent Developments
- U.S. Tariff Increases: The U.S. imposed a 25% tariff on steel imports from China in March 2018, and a 10% tariff on aluminum imports in April. These tariffs led to retaliatory actions from China, including tariffs on U.S. fruits, vegetables, and other products.
Outlook
The continuation of these talks and their potential outcomes are closely watched by international markets. Any agreement could provide relief to businesses and investors affected by the trade war, but specific details about the terms of a "reset" remain unclear.
Key Points to Watch
- Market Reactions: International markets will likely react to the news, providing an early indicator of investor optimism.
- Economic Implications: An actual reduction in tariffs could mitigate the economic damage caused by the trade war, although broader economic challenges such as potential recession and the U.S. debt ceiling remain pressing concerns.
- The ongoing trade negotiations between the USA and China, as announced by Trump for Monday in London, could potentially lead to a significant reduction in the impassioned trade feud between the two countries, signifying a promising resolution in the realm of both business and politics.
- In addition to the trade talks, the US government has ceased the supply of equipment for Chinese nuclear power plants, a move that could significantly affect the Chinese economy and signal a shift in the financial landscape, particularly in the nuclear power sector.
