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.

Key Takeaways Negotiations between the U.S. and China continued into a second day Tuesday.The two sides seek to lower trade barriers they've imposed on one another in tit-for-tat fashion in recent months.

Chinese state media say that the U.S. and China have agreed in principle on a framework to carry out an agreement they reached on resolving their trade disputes last month