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.

U.S. and China officials met in London Monday to defuse the trade war between the world's two largest economies. A key issue will be China's restrictions on exporting rare earth minerals, which are key to U.S. industries including auto manufacturing.

The latest trade truce between China and the United States offers investors hope that the two superpowers can reach a lasting resolution and prevent further market disruption, but the absence of detailed terms leaves room for potential future tariff conflicts.