BEIJING (dpa-AFX) - The United States and China have reached an agreement in principle on a framework to ease trade disputes between the world's two major economies.
This was announced by US, Chinese officials after two days of talks in London.
The plan is subject to approval by US President Donald Trump and his Chinese counterpart Xi Jinping, US Commerce Secretary Howard Lutnick told reporters.
Without specifying the terms of the framework, Lutnick indicated that both sides agreed to lift export controls on key goods and technologies of both the countries.
The resolution of China's restrictions on exports of rare earth minerals and magnets to the US will be fundamental in the progress of the framework agreement, Reuters quoted Lutnick as saying.
Speaking to reporters in London, China's international trade representative and vice commerce minister Li Chenggang said he hopes the progress made at the London talks will help in building confidence in US-China trade and economic relations.
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