US and China set a date for a high-level meeting in London.
Three of President Donald Trump's top aides will face their Chinese counterparts in London on June 9th.
The two sides will negotiate to resolve the trade dispute between the world's two largest economies, which has kept global markets on edge.
US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer will represent Washington in the negotiations, Trump said.
It remains unclear who will represent China. The Chinese embassy in Washington and the White House have not immediately responded to requests for further details.
"The meeting will go very well," Trump wrote.
The scheduling of the meeting came a day after Trump had a rare phone call with Chinese President Xi Jinping amid weeks of trade tensions and a battle over control of strategic minerals. Both leaders agreed to visit each other and instructed their teams to organize talks in the meantime.
Both countries are under pressure to de-escalate tensions, as the global economy suffers from China's control over exports of rare earth minerals, of which it is a key producer.
Investors are also worried about Trump's broader efforts to impose tariffs on goods from most of America's trading partners.
Meanwhile, China has also seen cuts in the supply of key imports from the US, such as chip design software and nuclear power plant components.
The two countries reached a 90-day agreement on May 12 in Geneva to ease some of the triple-digit tit-for-tat tariffs they had imposed on each other since Trump took office in January 2025.
That preliminary agreement sparked a surge of optimism in global stock markets. US indices, which had been in or near bear market levels, recovered much of their losses.
The S&P 500, which hit its lowest point in early April, has fallen nearly 18% after Trump announced widespread "Liberation Day" tariffs, and is now only about 2% away from its mid-February record high. The last third of this rally followed the US-China truce reached in Geneva.
However, that interim agreement did not address the broader concerns straining bilateral relations, ranging from the illegal fentanyl trade to the Taiwan issue and U.S. complaints about China's state-dominated, export-oriented economic model.
Since returning to the White House in January, Trump has repeatedly threatened a range of sanctions against trading partners, only to withdraw some of them at the last minute. This erratic approach has baffled world leaders and alarmed business executives.
Beijing views mineral exports as a source of advantage – halting exports could put political pressure on the Republican president domestically in the U.S. if economic growth slows because companies are unable to produce products that require minerals.
In recent years, the United States has identified China as its primary geopolitical rival and the only country in the world capable of challenging the U.S. economically and militarily.
