- The US and China reached a trade framework agreement after talks in London.
- The agreement follows discussions between the two presidents and talks in Geneva last month.
- A major focus for the US is ensuring critical mineral flows from China.
The US and China have finally made progress in trade talks.
Li Chenggang, China's Vice Minister of Commerce, told China's state broadcaster CGTN on Tuesday evening that the countries reached an agreement on a trade framework after two days of talks in London.
The Chinese negotiator told reporters in a media appearance that the US and China held "professional, rational, in-depth, and candid" discussions over the past two days.
He added that the new framework will implement the consensus reached by the two presidents during their phone call on June 5 and at the Geneva talks last month.
The US trade negotiation team comprised Secretary of the Treasury Scott Bessent, Secretary of Commerce Howard Lutnick, and Trade Representative Jamieson Greer.
There are no further details at the moment on what the framework looks like, or if the US has made progress on ensuring that critical minerals essential for chips, automakers, and the defense industry continue to flow from China.
The White House and the Chinese Embassy in Washington, DC did not immediately respond to a request for comments.
This is a developing story. Please check back for more updates.
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