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

Though the details of the deal were still unclear, analysts predicted that China seems to have gained the upper-hand after its rare earth restrictions prompted US carmakers, including Ford Motor and Chrysler,

US stocks end little changed after Trump says China violated tariff terms. Administration maps new curbs. Investors shrug off cooler inflation data.

U.S.-China trade talks are “a bit stalled,” requiring the two countries’ leaders to speak directly, Treasury Secretary Scott Bessent told Fox News.

Chinese Vice Premier He Lifeng (何立峰) is today to meet a US delegation for talks in the UK, Beijing announced on Saturday amid a fragile truce in the trade dispute between the two powers. He is to visit the UK from yesterday to Friday at the invitation of the British government, the Chinese Ministry of Foreign Affairs said in a statement.

In the second round of trade talks today in London, the United States and China will focus on export controls regarding critical technologies and rare earths instead of tariffs.

Tensions have escalated between the two countries, with each side accusing the other of violating a trade agreement reached in Switzerland on May 12.