Trade talks between the US and China got underway this afternoon in London. The Trump administration is signaling a willingness to remove restrictions on exports imposed as part of its global trade war in exchange for assurances that China is easing limits on rare earth shipments.

Top U.S. and Chinese officials were due to meet in London for talks aimed at defusing the high-stakes trade dispute that has widened in recent weeks beyond tit-for-tat tariffs to export controls over goods critical to global supply chains.