Trade talks between the US and China resumed on Tuesday after six hours of discussions between top officials in London on Monday. Tuesday's talks are expected to continue to focus on easing tensions over rare earths and tech.

The outcome of U.S.-China trade talks in London could shape economic relations between the world's two largest economies and influence global supply chains.

U.S. Commerce Secretary Howard Lutnick said on Tuesday trade talks with China were going well as the two sides met for a second day in London, seeking a breakthrough on export controls that have threatened a fresh rupture between the superpowers.