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.

U.S. and Chinese negotiators agreed to try again to implement the trade war truce that had collapsed after it was reached during an earlier round of talks in Geneva.