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.

Top U.S. and Chinese officials met in London on Monday in an effort to ease a high-stakes trade dispute that has escalated beyond tariffs to include restrictions on rare earth minerals—critical components in global supply chains.

Wall Street's main indexes opened subdued on Tuesday as investors awaited the outcome of ongoing trade talks between the United States and China aimed at cooling a tariff dispute that has bruised global markets this year.