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

U.S. and Chinese officials said they had agreed on a framework to put their trade truce back on track and remove China's export restrictions on rare earths while offering little sign of a durable resolution to longstanding trade differences.

If a handshake agreement holds, it will merely undo some of the damage from the trade war that President Trump started.

United States and Chinese officials said they had agreed on a framework for a trade truce, which removed China's export restrictions on rare earths.

U.S. Treasury Secretary Scott Bessent on Wednesday called on China to uphold its commitments under an initial U.S. trade agreement reached in Geneva last month, hours after he and other U.S. and Chinese officials agreed on a new framework to implement the deal.

Here are all the tariffs, counter-tariffs, dealmaking, and deal-breaking between the world’s two biggest economies.

The treasury secretary's remarks indicate that the Trump administration might be more inclined to shift the self-imposed deadline as it gets closer.

U.S. Commerce Secretary Howard Lutnick said that a trade framework and implementation plan agreed with China in London should result in restrictions on rare earths and magnets being resolved. China's Vice Commerce Minister Li Chenggang said earlier the two teams had agreed on implementing their Geneva consensus and would take the agreed framework back to their leaders.

Eric Rosengren, Former Boston Fed president, joins 'Money Movers' to discuss the CPI report, Commerce Secretary Lutnick's comments on the U.S.-China trade talks and the economy.