Top US and Chinese officers met in London on Monday in recent efforts to stabilise the delicate pause in their trade combat, which has shaken international markets. The Chinese delegation, led by vice premier He Lifeng and commerce minister Wang Wentao, met with US commerce secretary Howard Lutnick, treasury secretary Scott Bessent and trade consultant Jamieson Greer on the historic Lancaster House, a grand Nineteenth-century mansion close to Buckingham Palace. However, the discussions might prolong into Tuesday, in accordance to sources acquainted with the matter cited by AP. The newest spherical of diplomacy follows a tentative settlement in Geneva final month, the place each side dedicated to a 90-day pause on the steep tariffs, some over 100%, that they had slapped on one another in a tit-for-tat escalation. The short-term truce, introduced on May 12, supplied some respiratory area, although tensions stay excessive. Since the Geneva breakthrough, the 2 nations have had disagreements over superior semiconductors used in synthetic intelligence, visa restrictions for Chinese college students in the US, and the export of rare earth mineral, important uncooked supplies used in electrical automobiles and shopper electronics.Rare earths challenge is probably going to be a key subject in the London talks, after China started mandating export licences for producers dealing in seven of those supplies in April. The transfer triggered provide shortages, sending international automakers scrambling and elevating fears of manufacturing halts. Speaking to CNBC forward of the talks, US financial adviser Kevin Hassett stated he anticipated a brief assembly with “a big, strong handshake” on the rare earth issue. President Donald Trump and Chinese President Xi Jinping had spoken over phone last Thursday, with Trump later announcing on social media that trade discussions would resume in London. Despite hosting the meeting, the UK government is not a party to the negotiations. However, chancellor Rachel Reeves and business secretary Jonathan Reynolds held separate meetings with key figures from both sides. “We are a nation that champions free trade and have always been clear that a trade war is in nobody’s interests, so we welcome these talks,” a spokesperson for the UK government said.