U.S., China reach "framework" to activate last month's trade deal

US and China agreed on a framework to implement a trade deal, pending leaders' approval, following two days of talks in London. The agreement is considered beneficial for the US economy, potentially resolving issues with Chinese rare earth mineral exports. President Trump's positive approach in a call with President Xi Jinping was crucial to the deal's success. Chinese officials repeatedly referenced this call during negotiations. The deal aims to revive the May 12th trade agreement, easing tariffs and restrictions on rare earth materials. Prior to this, a trade war with tit-for-tat retaliations significantly impacted both economies. The recent deal follows a period of escalating tensions, including restrictions on Chinese chips and rare earth exports. Both countries' economies are experiencing pressure due to the trade war. The framework's specifics and implementation details remain unclear. The deal's ultimate success hinges on the approval of Presidents Trump and Xi.