Top negotiators from the U.S. and China have agreed on a plan to restart their trade discussions. Both sides announced this agreement, which comes after several disagreements that nearly stopped the talks.

The announcement was made after two days of discussions in London, which finished late on Tuesday.

The meetings seemed to focus on solving arguments about mineral and technology exports. These arguments had negatively affected a sensitive trade agreement made in Geneva last month. It's not clear if they made any progress on the main disagreements about China's large trade surplus with the United States.

U.S. Commerce Secretary Howard Lutnick told reporters after the meetings that they first needed to deal with the negative feelings, and now they can move forward.

Asian stock markets went up on Wednesday after the agreement was announced.

The discussions happened after President Donald Trump and Chinese leader Xi Jinping talked on the phone last week to try to make things less difficult.

Xinhua News Agency reported that Li Chenggang, China's international trade representative, said both sides have mostly agreed on how to carry out the agreements made during a phone call and meetings in Geneva.

More information, such as future meeting plans, was not available right away.

Li and Wang Wentao, China's commerce minister, were part of a group led by Vice Premier He Lifeng. They had a meeting with Lutnick, Treasury Secretary Scott Bessent, and Trade Representative Jamieson Greer at Lancaster House, an old mansion near Buckingham Palace.

Wendy Cutler, a former U.S. trade negotiator, said that 30 of the 90 days they had to solve their disagreements were wasted.

In Geneva, they agreed to pause most of the very high taxes they had placed on each other for 90 days. This was done to reduce concerns about a possible recession, which was caused by their increasing trade conflict. Additionally, the World Bank has reduced its forecasts for economic growth in the U.S. and worldwide this year, due to an increase in trade obstacles.

Cutler, the Vice President at the Asia Society Policy Institute, said that the U.S. and China wasted important time in renewing their agreements made in Geneva. He added that they now have only sixty days to deal with important problems like unfair trade practices, too much production, illegal shipping, and fentanyl.

Since the Geneva talks, the U.S. and China have had disagreements about several important topics. These include advanced computer chips that power artificial intelligence, visas for Chinese students who want to study at American universities, and rare earth minerals, which are essential for car manufacturers and other industries.

China, which produces the most rare earth minerals in the world, has indicated it might give out export licenses for these materials faster. In return, Beijing wants the U.S. to take away its limits on China getting the technology for advanced computer chips.

Lutnick said that solving the rare earths problem is a very important part of their agreement, and the U.S. will remove the actions it had taken in response. He didn't say which actions.

He said that our exports would probably decrease once the licenses were approved.

Cutler said it would be very unusual for the U.S. to talk about its export rules. She called these rules a problem that China has been mentioning for almost 20 years.

She said that because the U.S. did this, China can now insist on adding export controls to future discussions.

On Tuesday, a court in Washington said the government can keep collecting taxes on imported goods from China and other countries. This will continue while the government tries to overturn a decision made against Trump's main trade policy.

Trump previously said he wants to sell more American products in China, which is a major global manufacturer.

Trump said at the White House that if they didn't open up China, they might not do anything, but he really wanted to open up China.