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.

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

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.

Officials from the world’s largest economies will try to strike a deal Tuesday to relax painful export restrictions that they have imposed on each other.