The U.S. and China have reached consensus on trade, representatives from both sides said after high-level talks in London.

We have reached a framework to implement the Geneva consensus and the call between the two presidents,” U.S. Commerce Secretary Howard Lutnick told reporters. That echoed comments to reporters from Li Chenggang,

The US and China have agreed in principle to a framework for deescalating trade tensions by implementing the consensus they reached in Geneva, negotiators for both sides said.