The US and China thrashed out their trade fight for 20 hours. Here's what they agreed to
Singapore: US officials said Chinese restrictions on the export of critical rare earth minerals and magnets had been resolved under a preliminary deal to resurrect a fragile trade truce struck in Geneva last month.
Emerging from two days of intense discussions in London, US and Chinese negotiators said they had reached a new framework committing to the original trade deal struck on May 12, which almost unravelled in a dispute over China's export curbs on rare earths and US controls on technology sales.
The new agreement still needs to be signed off by both US President Donald Trump and Chinese President Xi Jinping.
Both sides offered few concrete details about what had been brokered over almost 20 hours of discussions.
US Commerce Secretary Howard Lutnick said the framework would put 'meat on the bones' of the original deal, and that the dispute over rare earths would be resolved as a 'fundamental' part of the new agreement.
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'We have reached a framework to implement the Geneva consensus and the call between the two presidents,' Lutnick said after the talks wrapped up on Tuesday evening in London.
'The idea is we're going to go back and speak to President Trump and make sure he approves it.'
China's Vice Commerce Minister Li Chenggang also said a trade framework had been reached that would be taken back to US and Chinese leaders for approval.
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