Top U.S. and Chinese officials will sit down in London on Monday for talks aimed at defusing the high-stakes trade dispute between the two superpowers that has widened in recent weeks beyond tit-for-tat tariffs to export controls over goods and components critical to global supply chains.

China's exports increased by 4.8% in May despite a 10% drop in shipments to the US. Imports decreased by 3.4%, yielding a USD 103.2 billion trade surplus. US-China trade tensions persist, with talks scheduled following negotiations between Trump and Xi Jinping.

China trade talks in London this week are expected to take up a series of fresh disputes that have buffeted relations, threatening a fragile truce over tariffs.Both sides agreed in Geneva last month to a 90-day suspension of most of the 100%-plus tariffs they had imposed on each other in an escalating trade war that had sparked fears of recession.