London: The first meeting of the China-US Economic and Trade Consultations opened Monday in London, with senior officials from both sides attending. The meeting aims to defuse major trade tensions that have expanded beyond mutual tariffs to include restrictions on rare earths, threatening to impact supply chains and slow global growth. The meeting seeks to put a preliminary agreement reached last month in Geneva back on track.

According to Qatar News Agency, this agreement had led to a reduction in tensions between Washington and Beijing, before the United States accused China of slowing down its commitments, particularly regarding rare earth exports. The talks, which could continue until Tuesday, come at a crucial time for both economies, as investors look to mitigate the impact of US President Donald Trump's tariff orders since his return to the White House in January.

These talks take place days after US President Donald Trump held a phone call with his Chinese counterpart, Xi Jinping. The two countries concluded a 90-day agreement on May 12 to remove some of the high tariffs imposed on each other since Trump took office in January.