THE US and China have agreed to a framework that restores a truce in their trade war after two days of talks, reports London's Financial Times.

The breakthrough in London followed an agreement in Geneva last month aimed at easing trade tensions between the world's two economic superpowers. Talks had faltered over differences regarding Chinese rare earth exports and US export controls.

The US team, which included Commerce Secretary Howard Lutnick and US trade representative Jamieson Greer, will return to Washington to present the deal to President Donald Trump. Mr Lutnick did not provide any details about the framework.

Li Chenggang, China's vice-minister of commerce, described the talks as "rational, in-depth and candid," and said the sides had agreed to implement the consensus reached in Geneva and in a phone call between Trump and Chinese leader Xi Jinping last week, according to Xinhua. He expressed hope that the progress made in London "will be conducive to strengthening trust between China and the United States."