US signals willingness to remove tech export restrictions with China

US stocks flipped between small gains and losses, and Chinese shares trading in Hong Kong entered a bull market as investors expressed hope the talks signalled a cooling of trade tensions

The US will stop short of including the most sophisticated US chips made by Nvidia used to power artificial intelligence, according to Kevin Hassett. File Picture: PA

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

Kevin Hassett, the director of the White House’s national economic council, told CNBC that the Trump administration expects that “after the handshake” in London, “any export controls from the US will be eased and the rare earths will be released in volume” by China.