Tariff

The US and China say they have agreed in principle to a framework for de-escalating trade tensions between the world's two biggest economies.

US Commerce Secretary Howard Lutnick said the deal should result in restrictions on rare earth minerals and magnets being resolved.

Both sides said they would now take the plan to their country's presidents - United States of America and China- for approval.

The announcement came after two days of negotiations in London between top officials from Beijing and Washington.