Talks going well, Lutnick says; US officials are expected to drop restrictions imposed recently on a range of technology and other products to China in return for better access to rare earth exports

A new round of trade talks between US and Chinese officials got underway in London on Monday. They will focus on export controls on rare earths, chips and other issues.

A licensing system set up by China for exports of rare earth magnets gives it leverage similar to America's chip export controls because of its near-monopoly on the sector.

China has introduced a tracking system for rare-earth magnets; producers have to submit details online on trading volumes and client names, as it looks to curb access

China's failure to lift export curbs on critical minerals, as promised in Geneva, has heightened concerns by carmakers and other firms that rely on rare earths

China's decision to suspend exports of critical minerals and magnets has upended supply chains to carmakers, aerospace manufacturers, chip firms and military contractors

US Trade Rep says China was slow to restore access to rare-earth minerals, while Beijing was unhappy about new export controls and other moves imposed by the White House

China's industrial and retail sectors slowed in April, while air freight capacity between China and the US plunged after the US closed the 'de minimus' tax exemption

The two countries signed an MoU last week on a lunar research station. Russia's space agency says a nuclear reactor to power the station would be built autonomously by 2035 "without the presence of humans"

Central bank cuts key interest rate again, while Moody's ratings agency downgrades Thailand's outlook to negative based on impacts expected from US tariffs

"China's affected airlines and Boeing have suffered greatly," the Commerce ministry said, but other airlines say they're happy to take jets from Boeing if China no longer wants them

Trump administration could lower tariffs on Chinese goods to 50-65%, pending talks with Beijing, a source said. But Beijing says no talks have been held yet