US Treasury Secretary Bessent Departs Amid Ongoing Trade Talks with China
On June 10, 2025, US Treasury Secretary Scott Bessent announced his departure from the ongoing trade negotiations in London, citing an urgent commitment to testify before Congress in Washington, D.C. This marks a pivotal moment in the high-stakes discussions aimed at easing tensions between the world’s two largest economies.
Negotiations Press On Despite Bessent’s Exit
Although Bessent will be leaving the talks, Commerce Secretary Howard Lutnick along with U.S. Trade Representative Jamieson Greer will remain in London to carry forward the dialogue with the Chinese delegation. Held at the historic Lancaster House near Buckingham Palace, these discussions have spanned two intense days and sources suggest the participants are striving to conclude by Tuesday evening.
"The talks have been productive," Bessent stated as he departed, adding that the remaining US negotiators are continuing to engage with their Chinese counterparts as needed.
Focus Areas: Export Controls and Rare Earth Minerals
These are the second high-level negotiations in just two months amid an ongoing trade dispute between the US and China. Central to the dialogue are issues surrounding export controls and access to strategically critical minerals.
- The United States is seeking to ease export restrictions on sensitive technologies heading to China.
- In return, China is expected to commit to greater openness in exporting rare earth minerals, essential components in modern technologies.
These topics became more contentious following the previous talks in Geneva, Switzerland, which led both nations to momentarily roll back most tariffs on their imported goods.
Chinese Delegation and Diplomatic Stakes
The Chinese team included key figures such as Vice Premier He Lifeng, Commerce Minister Wang Wentao, and top trade negotiator Li Chenggang, highlighting the importance Beijing places on these discussions.
As the negotiations unfold against a backdrop of economic uncertainty and geopolitical tension, observers are watching closely for any sign of breakthrough or further deadlock.
This story is developing — stay tuned for updates as more information becomes available.
