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.

President Donald Trump announced Friday that US and Chinese officials will meet in London on Monday to discuss trade between the two nations.

One expert said he expected loosened controls on U.S. exports of semiconductors in exchange for China's releasing of more rare earths.