The US and China wrapped up two days of high-stakes trade talks in London. The result: a plan to establish a framework for implementing a consensus the two sides had already agreed to last month. US Commerce Secretary Howard Lutnick said the Chinese had pledged to speed up shipments of rare-earth metals critical to US auto and defense firms,

As U.S. and Chinese negotiators meet for trade talks, a primary concern for Washington will be whether Beijing eases the flow of rare earth materials.

U.S. Commerce Secretary Howard Lutnick said on Wednesday that a trade framework and implementation plan agreed with China in London should result in restrictions on rare earths and magents being resolved.