President Donald Trump announced on Friday that new trade negotiations will take place on Monday in London between the United States and China, aimed at reaching an agreement concerning tariffs between the two economic giants.

This announcement followed a telephone call between Trump and Chinese President Xi Jinping.

The upcoming meeting in the British capital will mark the second round of negotiations between the world’s largest economies since Trump initiated a trade war with various opponents and partners.

The first round occurred last month in Geneva.

Trump stated via his social media platform, Truth Social, that the U.S. delegation will include Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, and Trade Representative Robert Lighthizer, expressing hope that the meeting would proceed productively.

While Trump has imposed broad tariffs at a rate of 10% on imports from most trading partners, tariffs on Chinese goods have sharply escalated amidst the ongoing tariff battle.

In April, additional American tariffs on numerous Chinese products reached as high as 145%, while China implemented retaliatory measures at 125%.

Following the Geneva talks last month, both sides agreed to temporarily reduce tariffs, resulting in American tariffs standing at 30% and Chinese tariffs at 10%.

However, this temporary reduction is expected to expire at the beginning of August, after which President Trump accused China last week of violating the agreement, highlighting significant disagreements between the two nations.

Despite the high-level discussions prompted by the recent conversation between the two presidents, any swift resolution to the tariff issues remains uncertain.