Trump announces new trade talks between the United States and China in London

(Patria) - US President Donald Trump announced a new round of trade talks with China in London next week, a day after calling his Chinese counterpart Xi Jinping in an attempt to end the battle over tariffs, AFP reported.

The talks in the British capital on Monday will mark the second round of such negotiations between the world's two largest economies since Trump launched his trade war this year.

"The meeting should go very well," Trump said in a post on his Truth Social platform.

Trump added that US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and US Trade Representative Jamieson Greer would meet with the Chinese team.

The first talks between Washington and Beijing since Trump imposed tariffs on allies and adversaries were held last month in Geneva.

While Trump imposed a comprehensive 10 percent tariff on imports from most trading partners, rates on Chinese goods have sharply increased as the two countries entered an escalating tariff battle.

In April, additional US tariffs on many Chinese products reached 145 percent, while China retaliated with 125 percent countermeasures.

Following the talks last month, both sides agreed to temporarily reduce levels, with US tariffs decreasing to 30 percent and Chinese levies to 10 percent.

However, this temporary pause is expected to expire in early August, and Trump accused China of violating the agreement last week, highlighting deeper differences on both sides.

US officials have accused China of being slow to approve exports of critical minerals and rare earth magnets, a key issue behind Trump's recent statements.

Trump's long-awaited phone call with Xi this week likely paved the way for further high-level trade negotiations, but a quick resolution to the tariff stalemate remains uncertain.