Donald Trump announced Friday that new trade talks will be held in London on Monday between the United States and China, in an attempt to reach an "agreement" between the two economic giants on tariffs.
Trump's announcement came the day after a phone call with his Chinese counterpart, Xi Jinping.
The meeting in the British capital will mark the second round of negotiations between the world's two largest economies since Trump launched his trade war against his rivals and partners, following a first round of negotiations last month in Geneva.
The US president explained via his Truth Social platform that the US delegation will include Treasury Secretary Scott Besant, Commerce Secretary Howard Lutnick, and Trade Representative James Greer, adding, "This meeting should go very well."
While Trump imposed a 10% tariff on imports from most of his trading partners, tariffs on Chinese goods rose sharply as the tariff battle between the two countries escalated.
Following talks in Geneva last month, the two sides agreed to a temporary tariff reduction, with the US tariff set at 30% and the Chinese tariff at 10%.
However, this temporary reduction is expected to expire in early August. Trump accused China last week of violating the agreement, underscoring the deep disagreements between the two sides.
Although the phone call between the Chinese and US presidents paved the way for further high-level trade talks, any quick resolution to the tariff issue remains uncertain.
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