U.S. Trade Officials to Meet with China on June 9

Yesterday, President Trump said that his phone call with Chinese President Xi Jinping resulted in a “very positive conclusion” with plans for representatives from both sides to hold another round of trade talks. That conversation will come sooner than later.

Today, Trump announced that Secretary of the Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, and U.S. Trade Representative Jamieson Greer will meet with Chinese representatives on Monday, June 9 in London. “The meeting should go very well,” said Trump in a Truth Social post.

U.S.-China Tensions Ease ahead of Talks

Last month, both the U.S. and China agreed to lower their tariffs on each other by 115% in a preliminary trade deal, among other measures. A few weeks later, Trump accused China of violating the deal, with accusations such as continuing to restrict the flow of rare earth elements.

Reuters reported today that China granted suppliers of three top U.S. automakers rare earth export licenses, a sign of easing tensions ahead of the talks.

Both U.S. and China stocks are trading higher on the news, with the S&P 500 (SPX) up by 1.10%.