#USChinaTradeTalks London Talks: High-level officials, including China's Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer, are participating.

* Geneva "Tariff Truce": In May, both sides agreed to a 90-day pause on new tariffs and a significant reduction in existing tariffs. US tariffs on Chinese products were lowered from 145% to 30%, and China's levies on US imports dropped from 125% to 10%. This truce is set to expire in August.

* Sticking Points and Accusations: Despite the Geneva agreement, new disputes have emerged.

* Technology: The US Commerce Department issued guidance suggesting that the use of Huawei's Ascend AI chips could violate US export controls, leading to strong objections from China. China has also accused the US of stopping sales of computer chip design software and cancelling visas for Chinese students.

* Rare Earth Minerals: The US claims China has been slow to release exports of rare earth metals and magnets, which are crucial for various US industries. China, meanwhile, has reportedly approved some rare earth export licenses.