Trade negotiations between the US and China have entered a second day in London, with a focus on export controls impacting global supply chains and economic growth. The talks, taking place at Lancaster House, follow a preliminary agreement reached in Geneva last month.

Tensions have resurfaced after the US accused China of blocking exports critical to sectors like semiconductors, aerospace, and defense. In May, China’s exports to the US dropped by 34.5%, the steepest decline since early Covid-19.

US President Donald Trump noted, “China’s not easy,” yet signs of progress appear to be emerging. But China has remained mostly silent post-first day of talks.

So what’s really at play behind these high-level talks? What does each side stand to gain - or lose in this negotiation? 

On The Big Story, Hongbin Jeong discusses the key issues emerging from the meeting with Chris Humphrey, Executive Director of the EU-ASEAN Business Council.