U.S. Secretary of Commerce Howard Lutnick confirmed during a press conference in London that trade talks between the United States and China are progressing. He noted that discussions continued throughout Tuesday, following a marathon session that lasted 7 hours on Monday.
The ongoing trade talks focus on easing restrictions on American technology exports and tariff exchanges. Analysts expect preliminary agreements to be announced in the coming hours, which could alleviate global trade tensions.
These trade talks come after months of escalation, during which Washington imposed restrictions on semiconductors, prompting Beijing to respond with tariffs on American agricultural products. The global economy is eagerly awaiting the results of the current trade negotiations, especially regarding their impact on international supply chains.
The lengthy duration of the trade talks indicates the complexity of the issues at hand, but Lutnick's positive statements are bolstering investor hopes. Observers believe that the success of the trade talks could pave the way for a comprehensive trade agreement by the end of 2025.
European Union countries have urged both parties to resolve their trade disputes, asserting that stability in trade discussions between the two giants positively reflects on global markets. Meanwhile, experts have warned of negative repercussions for the technology sector if trade talks fail to resolve the semiconductor disagreements.
