Overview

• US and Chinese negotiators reached a framework agreement during two days of talks in London.
• The accord builds on a prior 90-day truce agreed in Geneva by promising reciprocal tariff reductions.
• It secures Chinese shipments of rare earth minerals essential for batteries, wind turbines and defense systems.
• The agreement foresees US easing of certain export controls on Chinese technology products.
• The framework awaits ratification by Xi Jinping and Donald Trump and has prompted positive reactions in global markets.