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.

A Chinese delegation led by Vice Premier He Lifeng held talks with U.S. Commerce Secretary Howard Lutnick, Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer at Lancaster House, an ornate 200-year-old mansion near Buckingham Palace.

Stock markets around the world are generally holding in place as the wait continues to hear what will come of trade talks underway between the United States and China.

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