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Trump and Xi Agree to London Trade Talks to Address New Tech and Rare Earth Disputes

London talks on Monday aim to test the 90-day tariff truce through negotiations over chip export controls, rare earth licensing, student visa revocations

FILE - Chinese students wait outside the U.S. Embassy for their visa application interviews, in Beijing on May 2, 2012. (AP Photo/Alexander F. Yuan, File)
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Overview

  • President Trump and President Xi held a phone call last Thursday and agreed to convene trade talks in London on Monday after months of escalating tensions.
  • A Geneva agreement last month suspended most of the more than 100 percent tariffs for 90 days but has become strained by fresh clashes.
  • U.S. Commerce Secretary Howard Lutnick will attend the London meetings, highlighting Washington’s emphasis on export controls for advanced technology.
  • The U.S. Commerce Department has warned that using Huawei’s Ascend AI chips could breach export controls, provoking a strong response from Beijing.
  • China’s licensing requirement for seven rare earth elements has disrupted global supply chains while U.S. plans to revoke visas for some Chinese students have added new friction.