Top U.S. and Chinese officials were meeting in London on Monday to try to defuse a high-stakes trade dispute that has widened beyond tit-for-tat tariffs to restrictions over rare earths, threatening to cripple supply chains and slow global growth.

High-level delegations from the United States and China are meeting in London to try and shore up a fragile truce in a trade dispute that has roiled the global economy

Delegates from the United States and China are set to meet Monday in London after a phone call between the nations' leaders seemingly led to a cooling of tensions related to their otherwise heated recent trade dispute.