WASHINGTON (Reuters) -U.S. President Donald Trump said on Wednesday he would be willing to extend a July 8 deadline for completing trade talks with countries before higher U.S. tariffs take effect, but did not believe that would be necessary.

China has leverage it can use by limiting access to its rare earth supplies, but it does not want to sacrifice its reputation as a reliable supplier.

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.