Overview

• U.S. and Chinese trade delegations convened in London on June 9 to extend the 90-day tariff reduction deal reached in Geneva last month.
• Both sides have accused each other of violating the Geneva accord by delaying critical minerals exports and imposing new visa and chip restrictions.
• Customs data show Chinese exports to the U.S. plunged 34.5 percent year-on-year in May, the largest drop since early 2020.
• White House Press Secretary Karoline Leavitt said the London talks will press forward on sector-specific duties under the Geneva truce.
• Analysts warn that deep competition over technology, data flows and defense issues may prolong negotiations beyond the current truce period.