Monday's U.S.-China trade talks could be about a lot more than just tariffs. U.S. and China officials met in London Monday to discuss trade, in what could be a de-escalation of the trade war between the world's two largest economies. The talks are likely to cover rare earth metals and other flashpoints.

Trade talks between the US and China will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements.

A new round of trade negotiations between the United States and China has started in London, with both sides trying to preserve a fragile truce brokered last month.