China and the USA continue talks in London, according to state media

An exact time was not given. According to further media reports citing US officials, the meeting is expected to continue in the morning (London local time).

Representatives of the world's two largest economies met at Lancaster House in the British capital on Monday afternoon (local time). Among those present were US Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick as well as China's Vice Premier He Lifeng and Commerce Minister Wang Wentao.

Dispute over export controls

Interim results of the talks were not officially announced at first. The economic advisor to US President Donald Trump, Kevin Hasset, told CNBC that he expected a brief meeting "with a strong handshake". Trump said in Washington that the US was getting along well with China. "I only get good reports," he continued.

Around a month ago in Geneva, the two sides had agreed to a 90-day pause in the tariff dispute and a significant reduction in the surcharges on goods from the other country. This time, however, the main topic of dispute appears to be trade restrictions.

China's export controls on rare earths are a concern for the USA, but also for other countries. Washington wants to achieve a relaxation. In return, the USA could reduce its trade restrictions in areas such as computer chips or aircraft components, where China is dependent on foreign technology.