Trade talks between the U.S. and China kicked off in London, with the U.S. signaling a willingness to remove restrictions on some tech exports in exchange for assurances that China is easing limits on rare earth shipments.

The meeting, which began Monday just after 1 p.m. local time, is expected to extend into the U.K. evening and may restart Tuesday if necessary.

The Trump administration expects that “after the handshake” in London, “any export controls from the U.S. will be eased and the rare earths will be released in volume” by China, Kevin Hassett, head of the White House’s National Economic Council, told CNBC.

Hassett’s comments from Washington were the clearest signal yet that the U.S. is willing to offer such a concession, though he added that the U.S. would stop short of includ

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