The announcement comes after Trump and his Chinese counterpart Xi Jinping spoke for 90 minutes on Thursday. After the phone call, the US president said he was encouraged that ongoing trade tensions could soon be resolved.
Chinese Vice Premiere He Lifeng will represent Beijing at the London talks, China’s Ministry of Foreign Affairs said on Saturday.
The last talks between the Trump administration and their Chinese counterparts, held on May 12 in Geneva, represented a major turning point for the global trade war. Delegates from China and the United States announced they would significantly roll back their historically high tariffs on one another. Markets rallied, Wall Street banks curtailed their recession forecasts, and moribund US consumer confidence rebounded significantly.
That marked a significant change from April, when tensions ran so high that trade between the United States and China came to an effective halt. The 145% tariffs on most Chinese imported goods made the math impossible for American businesses to buy virtually anything from China, America’s second-largest trading partner.
Source: https://edition.cnn.com
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