As U.S. and Chinese officials concluded trade talks this week, new data shows massive tariffs drove Chinese imports to their lowest levels in more than five years. U.S. tariffs on Chinese goods topped out at 145% in April when the Census Bureau collected trade data that showed a continuing decline in Chinese imports from March.

The United States and China have agreed on a framework to implement their trade truce, officials on both sides said Wednesday, after concluding two days of talks in London to defuse tensions and ease export restrictions that threaten to disrupt global manufacturing.

Chinese exports of rare earth minerals, which are vital to carmakers and other industries, and China's access to high-end technology from the U.S., including computer chips, are high on the agenda.

US stocks closed higher as investors wait for news from another day of China-US trade talks in London. Key inflation data are also ahead.

Sir Keir Starmer flies to Canada later to meet Mark Carney, the former governor of the Bank of England who became his country's prime minister in March.The two men will get together in the Canadian capital Ottawa on Saturday evening,

• Semtech has a price-to-sales (P/S) ratio of 3.4 against a figure of 3.0 for the S&P 500 • Additionally, the company's price-to-free cash flow (P/FCF) ratio is 52.6 compared to 20.5 for the S&P 500

High-level trade talks between the U.S. and China wrapped up in London late Tuesday. But the negotiations are far from over.Representatives agreed to keep talking along the lines of the agreement reached in Geneva last month to temporarily lower tariffs.

The treasury secretary's remarks indicate that the Trump administration might be more inclined to shift the self-imposed deadline as it gets closer.