NEW YORK — Chinese and U.S. officials said they agreed to a “framework” to lower tensions after two days of trade talks in London, offering scant details but potentially alleviating some pressure on global supply chains.
U.S. Commerce Secretary Howard Lutnick told reporters on Tuesday that a key friction point in the superpowers’ relationship — Chinese restrictions on exports of rare-earth minerals and magnets critical for high-tech manufacturing — had been resolved, while suggesting that some U.S. export controls would come off “in a balanced way.”
