After months of economic tension, the United States and China have held their third round of trade talks since April. Discussions touched on everything from rare earth materials and electric vehicle tech to global alliances with Russia and Iran.
Top negotiators from both sides reviewed ongoing economic challenges and the implementation of trade terms previously agreed upon by former President Donald Trump and Chinese President Xi Jinping. One of the more sensitive topics was rare earth elements — vital materials used in technologies like semiconductors and electric vehicles. These elements remain a sticking point in the negotiations due to their strategic importance.
The U.S. delegation also raised concerns about China’s relationships with Russia and Iran — signaling that the scope of the talks went beyond simple trade imbalances.
Li Chenggang, a senior Chinese trade official, emphasized the importance of a stable economic partnership, saying both nations "fully understand the importance of safeguarding a stable and sound China-U.S. trade and economic relationship."
Bessent, a U.S. delegate, noted that recent trade wins by the U.S. — including deals with Japan and the EU — gave the team added momentum. “I believe they were in more of a mood for wide-ranging discussion,” he told reporters.
President Trump has long criticized the massive U.S. trade deficit with China, which stood at a staggering $295 billion last year. However, U.S. Trade Representative Jamieson Greer said they are already on track to reduce that number by $50 billion this year.
Still, Bessent clarified that Washington isn't aiming for a full economic break with Beijing. “We just need to de-risk certain strategic industries — whether it's rare earths, semiconductors, or medicines,” he explained.
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