US President Donald Trump has announced a new round of trade talks with China, set for Monday in London, following a phone call with Chinese President Xi Jinping aimed at easing tariff tensions.

The US delegation will comprise Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer, according to Reuters.

This is the second round of discussions since President Trump announced tariffs of up to 145 percent on Chinese goods, causing China to counter with 125 percent tariffs. A temporary tariff reduction deal reached last month is set to expire in August, with Trump accusing China of violating the agreement.

Key US concerns include restricted mineral exports, fentanyl trafficking, Taiwan, and China's economic practices. Despite the tensions, Trump stated the conversation with Xi as "positive," raising hopes for progress, Reuters reported.