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.

The president said he and Chinese President Xi Jinping still need to sign off on a preliminary deal, even though he called it "done."

Chinese exports of rare earth minerals, which are vital to carmakers and other industries, and China's access to high-end technology from the U.S., including computer chips, are high on the agenda.

The Big Money Show' co-host Taylor Riggs joins 'Fox & Friends First' to discuss the significance of rare earth minerals, where the U.S. has the 'upper hand' with China trade talks and more.

A Beijing auction house sold a human-sized Labubu figure for 1.08 million yuan ($150,275.51) on Tuesday, setting a new record for the "blind box" toy as it moves from craze to collectible.

After two days of talks in London, the U.S. and China have agreed in principle on a framework to carry out an agreement they reached on resolving their trade disputes last month, Chinese state media said.

Economists saw progress in trade talks on the rare earth issue between the United States and China as a positive sign in moving toward a longer-term deal that would settle financial markets and