Trump says China tariffs will stay high after two days of talks

Trump added in a later Truth Social post that “President XI and I are going to work closely together to open up China to American Trade.” The American negotiators on Tuesday night did not announce any major modifications to Chinese market access for U.S. companies after the conclusion of talks.

Additionally, U.S. Trade Representative Jamieson Greer said there were no further meetings planned with Chinese officials. Lutnick and Greer did not commit to releasing the “framework” agreed upon in London either.

Chinese officials, likewise, said the two sides agreed in principle on a consensus regarding the Geneva agreement but did not provide any specific details.

The talks in London occurred after the U.S. and China accused each other of breaching a pact reached in early May that led to both countries lowering tariffs by 115%. Part of that agreement was to ease export restrictions on rare earth minerals and metals that are critical for everyday products such as batteries and automobile production.

The U.S. repeatedly said China was lifting those restrictions more slowly than it expected. “They were kind of releasing them, but it was going a lot slower than some companies believed was optimal,” National Economic Council Director Kevin Hassett said Monday before the trade talks.

China dominates the global supply of critical rare earth minerals, accounting for more than 70% of the mining and 90% of the refining of the materials.

China had also opposed U.S. export controls on student visas, and on high-end computer chips and design programs used for artificial intelligence software. China also pushed back against potential tariffs on jet engines, after earlier returning a Boeing 737 in protest.

China’s Vice Premier He Lifeng, who participated in the London talks, said on state TV Wednesday before Trump’s posts that the U.S. should abide by the “hard-won” agreement. China said the U.S. should “show the spirit of good faith.”