BEIJING: China’s vice premier and top trade negotiator stressed the need for Beijing and Washington to strengthen cooperation and reduce “misunderstandings” in future dialogue, according to state media on Wednesday (Jun 11), following trade talks in London that it said had made substantial progress.
United States Commerce Secretary Howard Lutnick expressed optimism after a full day of negotiations that concerns surrounding rare earth minerals and magnets “will be resolved” eventually, as the deal is implemented.
But this framework will first need to be approved by leaders in Washington and Beijing, officials said, at the end of meetings at the British capital’s historic Lancaster House.
All eyes were on the outcomes of negotiations as both sides tried to overcome an impasse over export restrictions. US officials earlier accused Beijing of slow-walking approvals for shipments of rare earths.
The world’s two biggest economies were also seeking a longer-lasting truce in their escalating tariffs war, with levies currently only temporarily on hold.
“We’re moving as quickly as we can,” US Trade Representative Jamieson Greer told reporters on Tuesday.
“We would very much like to find an agreement that makes sense for both countries,” he added, noting that the relationship was complex.
“We feel positive about engaging with the Chinese,” he maintained.
Speaking separately to reporters, China International Trade Representative Li Chenggang said: “Our communication has been very professional, rational, in-depth and candid.”
Li expressed hope that progress made in London would help to boost trust on both sides.
And in a state media readout of the talks released Wednesday, Chinese Vice Premier He Lifeng, who headed Beijing’s team in London, stressed the need for the two sides to strengthen cooperation in future dialogue.
“As a next step, the two sides should … continuously enhance consensus, reduce misunderstandings and strengthen cooperation,” he said, according to state broadcaster CCTV.
