US, China agree on trade 'framework'
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The CPI gives the latest update on consumer inflation, President Trump’s trade team is back from talks with China and Tesla CEO Elon Musk sets the stage for the debut of the long awaited robotaxis. FOX Business is providing real-time updates on the markets,
China's Vice Commerce Minister Li Chenggang said on Tuesday that the Chinese and the U.S. negotiating teams had agreed a framework on trade after two days of talks, and would take that back to their leaders.
Asian shares are trading higher after China and the U.S. said they have a framework for following up on the trade truce reached last month in Geneva.
One expert said he expected loosened controls on U.S. exports of semiconductors in exchange for China's releasing of more rare earths.
Gold prices edged higher on Wednesday as uncertainty surrounding the finalisation of a U.S.-China trade agreement weighed on sentiment and fuelled some safe-haven buying, with investors awaiting key U.
At the end of two days of intense negotiations in London, US Commerce Secretary Howard Lutnick said the framework deal puts "meat on the bones" of an agreement reached last month in Geneva.
Gold edged higher even after the US and China said they had agreed on a plan to ease trade tensions during talks in London.
High-level delegations from the United States and China are meeting in London to try and shore up a fragile truce in a trade dispute that has roiled the global economy.
India's benchmark indexes are poised to open marginally higher on Wednesday, mirroring gains in other Asian markets on signs of progress in trade talks between the U.S. and its key trading partners such as India and China.