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.

U.S. and Chinese officials said on Tuesday they had agreed on a framework to put their trade truce back on track and remove China's export restrictions on rare earths while offering little sign of a durable resolution to longstanding trade differences.

After two days of talks in London, the U.S. and China have agreed in principle on a framework to carry out an agreement they reached on resolving their trade disputes last month, Chinese state media said.

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

The U.S. and China have agreed on a "framework" to resolve some disputes that threatened to derail fragile talks between the two countries.

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.