On June 9 and 10, 2025, China and the United States convened the first meeting of the China-U.S. economic and trade consultation mechanism in London, resulting in professional and candid exchanges on key trade issues.

This meeting followed a phone call between the two heads of state on June 5, during which both sides established a framework aimed at implementing the consensus derived from that conversation.

Chinese Vice Premier He Lifeng led the Chinese delegation, engaging in talks with U.S. Treasury Secretary Scott Bessent, U.S. Commerce Secretary Howard Lutnick, and U.S. Trade Representative Jamieson Greer.

This meeting is viewed as significant, aiming to further stabilize economic relations between the two nations.

During the discussions, the attendees reached a principled agreement focused on addressing mutual economic and trade concerns and reaffirmed the commitment to promote win-win cooperation.

He Lifeng emphasized the importance of dialogue, calling for equal engagement to resolve disputes and stating that confrontation benefits neither party.

He reiterated China's dedication to pursuing economic and trade consultations with sincerity while adhering to its principles.

Both sides acknowledged the necessity of maintaining communication and collaboration to facilitate sustainable growth in China-U.S. economic and trade relations.

This dialogue has taken place against a backdrop of broader geopolitical dynamics and ongoing global economic challenges.

China's commitment to opening its markets and enhancing its business environment was highlighted, with stable foreign capital usage and increasing investment in high-tech industries underscoring the country’s resilience.

In the first five months of 2025, China's total goods trade reached approximately 17.94 trillion Chinese yuan (about $2.5 trillion), marking a year-on-year increase of 2.5%.

Export growth also accelerated to 7.2%, indicating ongoing stability amidst external pressures.

The meeting in London follows previous high-level discussions in May 2025 in Geneva, where both nations agreed on measures to significantly reduce tariffs and curb trade barriers.

The joint statement issued after those talks noted substantial progress, with the U.S. lifting 91% of additional tariffs on Chinese goods and China reciprocating with similar actions.

The outcomes of these meetings reflect an ongoing effort to navigate complex trade dynamics while addressing economic concerns substantively.

The willingness to engage in open dialogue has been recognized by both sides as essential, with a focus on creating predictability and stability in the global economy.

The discussions in London are seen as laying the groundwork for a renewed phase of collaboration, with both nations poised to advance bilateral economic ties amidst a variety of challenges.