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.

China has approved "a certain number" of export permits for rare earth elements and related items, its commerce ministry spokesman said on Thursday.

China will only be renewing contracts for its rare earths six months at a time, making rolling trade negotiations more likely, The Wall Street Journal reported.

Bloomberg reporters unpack the latest round of high-stakes trade talks between the US and China, exploring why Beijing may still have the upper hand. They answer your questions on what's next in the "done" deal.

After two days of negotiations, the United States and China appear hopeful about the progress they’re making on a trade deal. But let’s take a look at what actually went down this week. Both countries say they have a "framework" that basically gets trade talks back to the agreement they made in Geneva a month ago.

U.S. Trade Rep. Jamieson Greer sets the record straight on where various deals with China stand on 'The Story.'