The Trump administration says its reviewing a deal to sell nuclear-powered submarines to Australia over concerns that the U.S. is not producing enough of its own.

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.

China hopes to become a global leader in protected nature reserves, creating a network of wilderness that would be three times the size of the U.S. system.

ADAM SEGAL is the Ira A. Lipman Chair in Emerging Technologies and National Security and Director of the Digital and Cyberspace Policy Program at the Council on Foreign Relations. From April 2023 to July 2024, he was a Senior Adviser in the U.S. State Department’s Bureau of Cyberspace and Digital Policy.

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.

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Two days of trade talks resulted in what leaders called a framework agreement meant to solidify terms of a truce that the superpowers reached in Geneva last month.