U.S. Commerce Secretary Howard Lutnick said that a trade framework and implementation plan agreed with China in London should result in restrictions on rare earths and magnets being resolved. China's Vice Commerce Minister Li Chenggang said earlier the two teams had agreed on implementing their Geneva consensus and would take the agreed framework back to their leaders.

Two days of talks resulted in a “framework” meant to solidify terms of a deal that the superpowers reached in Geneva last month.