Trade talks between the US and China resumed on Tuesday, with talks stretching well into the evening in London. Commerce Secretary Howard Lutnick said the talks were progressing "really, really well," but that they could stretch into Wednesday as the sides iron out details.

The U.S. and China are extending trade talks in London aiming for a breakthrough in export control disputes. U.S. Treasury Secretary Scott Bessent and other key officials are working to resolve tensions over tariffs and rare earths,

US President Donald Trump and Chinese President Xi Jinping spoke last week to ease diplomatic tensions, with Trump later announcing the London round of talks. US economic adviser Kevin Hassett expressed optimism,

One expert said he expected loosened controls on U.S. exports of semiconductors in exchange for China's releasing of more rare earths.