The US and China agreed to a framework and implementation plan to ease trade tensions on Tuesday. “We have reached a framework to implement the Geneva consensus,” US Commerce Secretary Howard Lutnick said.

Negotiators said the two governments would stick to a previous truce and reduce tensions that had escalated in recent weeks between the world’s largest economies.

American and Chinese officials are meeting for a second day of trade talks in London to shore up a fragile truce over tariffs. Negotiations are expected to focus on Beijing's shipments of rare earths and Washington's restrictions on chip exports.

In a potential breakthrough, the US and China have established a framework to resolve their long-standing trade disputes following discussions in Lond