World leaders and markets have been closely watching the trade talks between the two largest global economies, which have been taking place in London. US and Chinese officials have been seeking to strike a deal, and it is believed that easing export restrictions is topping the agenda.

The meeting stretched into the second day, and went into the night, on Tuesday. The US team is led by Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer. The Chinese delegation is headed by Vice Premier He Lifeng and Commerce Minister Wang Wentao.

The negotiators paused for dinner, and reconvened at about 8 p.m. local time. Lutnick spoke to reporters before resuming. He said the discussions were going "really well," but could spill into a third day.

Lutnick said: "Everybody's got their head down working closely. I hope they end this evening, but if they need to be, we'll be here tomorrow."

Bessent later left the meeting to attend congressional testimony in Washington DC. He said the talks had been "productive," and were "ongoing."

In May, the two sides agreed to pause some tariffs for 90 days to allow more time for negotiations.

But since then, Washington has accused Beijing of delaying exports of rare earth metals, and has urged China to end the restrictions. It is believed that China has called on the US to scrap its curbs on semiconductor-related exports.Nepalis deported from US refuse to file complaint, Nepal Police Is Investigating Their Connetion With Human Traffickor