The administration of US President Donald Trump has lifted restrictions on exports of chip design software to China, as Washington and Beijing work to dial down hostilities as part of a recent trade agreement.

President Donald Trump’s administration has lifted recent export license requirements for chip design software sales in China, as Washington and Beijing implement a trade deal for both countries to ease some restrictions on critical technologies.

U.S.-China trade talks were set to extend to a second day in London as top economic officials from the world's two largest economies sought to defuse a bitter dispute that has widened from tariffs to restrictions over rare earths,