US, China agree on plan to ease trade tensions as US appeals court allows tariffs to remain in effect

US-China talks stretched on Tuesday, and they may continue into Wednesday, US Commerce Secretary Howard Lutnick told reporters outside of Lancaster House in London, where delegations from both countries are meeting.

“I think the talks are going really, really well,” Lutnick said. “We’re very much spending time and effort and energy — everybody’s got their head down working closely.”

“I hope they end this evening,” he added, “but if they need be, we’ll be here tomorrow.”

The teams from China and the US, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, have been holding negotiations since Monday. The London summit followed a phone call between President Trump and Chinese President Xi Jinping.

Stocks rose to near session highs following Lutnick’s comments on an otherwise fairly muted day in markets.

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