05:55 AM EDT, 06/11/2025 (MT Newswires) -- The US and China have agreed on a framework to get the recent trade truce between the two countries back on track, pending approvals from their respective presidents, news outlets reported, citing US and Chinese officials.

The proposed framework, hammered out in London over two days of talks, would remove restrictions on Chinese exports of rare earth minerals and magnets and certain recent US export restrictions "in a balanced way," Reuters reported, citing US Commerce Secretary Howard Lutnick.

"We have reached a framework to implement the Geneva consensus," Lutnick reportedly said. "Now we can go forward to try to do positive trade, growing trade."

The framework must now be approved by US President Donald Trump and his Chinese counterpart, Xi Jinping, according to reports.

Separately, a federal appeals court has allowed Trump's most tariffs to remain in place while it reviewed a lower court ruling rejecting them on grounds of abuse of power, news outlets reported.

The appeals court has scheduled arguments for July 31, according to reports.