as the US and China did restart trade talks in London on Monday, aiming to ease tensions over rare earths and tech from more on the latest trade talk. We've got Yahoo Finances' Ben Worskol, who's been following all of it closely. So, what do we know about progress, about what they were talking about, and what happens next?

Yeah, yeah. Good afternoon, Julie. So, it is well into the evening there in London right now, and these talks do still appear to be going on between the two sides. The Treasury Secretary, Steven Mnuchin, is leading on the on the on the American side. And the overall landscape here is that this is, the expectations setting from both sides is for a sort of limited agreement coming out of this. This these talks may go into tomorrow, but we know that the top issues on the table from each side, which is on the US side, it is it is rare earth minerals. This is this is what the Trump administration has been claiming the Chinese have been cheating on since the the agreement was reached about 30 days ago to pause the tariffs. And then, from the Chinese side, is a focus on semiconductors and export controls more broadly. And what what what we're sort of expecting from this is that they're trying to get confirmation and more concrete details on these two issues, which President Trump and Xi Jinping discussed last week. As as Kevin Hassett said today on CNBC, they literally just want handshakes. They just want to get these deals done, and then they can work on the other stuff. And what that leaves off the table, of course, is all these other issues on the on the table between the US and China. We're not expecting a lot of progress on those. Any sort of broader trade agreement between the US and China will will kind of go ahead, as well as the tariff issue, which is the the big one, obviously, for investors. And we have about 60 more days on on on a on a 90 day pause between the US and China on those sky high tariffs that they agreed to. So, we're trying that what the administration wants here is a limited agreement on these things so that they can kind of restart the previously stalled talks on other things, while tariffs are going forward. President Trump is actually speaking this hour on us on a at a different event, so we may have more insight on this, but that's that's the kind of landscape we know right now.

Who is your sense, Ben, you know, as somebody who's followed these trade talks so closely? Who is your sense between the US and China of who has the leverage here?

I I think I think it's it's the the rare earth thing is the thing that's clearly spurred the problem here right now, and that that is that is China's major leverage. Rare earths are the mineral that, um kind of drives modern society, modern technology, and the the reserves, and both the reserves and their refining capacity, are in China. So, they have the clear leverage on that point. The question basically is, can the Trump administration bring enough leverage points, and the semiconductor is a significant one, to do this? That but that But the semi the rare earth is clearly the driving issue here, and it's the one that has the sort of widest range of of economic implications if that could really go sideways, as we don't have any evidence that that's happening yet.