"The two sides have, in principle, reached a framework for implementing the consensus reached by the two heads of state during the phone call on June 5th and the consensus reached at the Geneva meeting," China's Vice Commerce Minister Li Chenggang said.

Trade talks between the US and China will continue into a second day, according to a US official, as the two sides look to ease tensions over shipments of technology and rare earth elements.

The U.S. and China held a second day of talks Tuesday in London aimed at easing their trade dispute, after President Donald Trump said China is “not easy” but the U.S. was “doing well” at the negotiations.