Senior US and Chinese officials have agreed on a plan to restart their trade talks, after several disagreements that nearly stopped them, both sides have said.

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

The meetings seemed to be about finding a solution to disagreements over mineral and technology exports. These disagreements had made a recent trade agreement, which was made in Geneva last month, unstable. It's not clear if they made any progress on the main issues about China's large trade surplus with the United States.

First, we needed to deal with the negative feelings, and now we can make progress," U.S. Commerce Secretary Howard Lutnick told reporters after the meetings.

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.

Li Chenggang, a senior official from China's Ministry of Commerce, announced that both sides had mostly agreed on a plan to carry out the decisions made during a phone call and meetings in Geneva, according to Xinhua News Agency.

More information, such as possible future talks, was not available right away.

Vice Premier He Lifeng led a Chinese delegation that included Commerce Minister Wang Wentao and Li. They met with Lutnick, Treasury Secretary Scott Bessent, and Trade Representative Jamieson Greer at Lancaster House, an old building near Buckingham Palace.

Wendy Cutler, who used to be a U.S. trade negotiator, said that 30 of the 90 days they had to solve their disagreements were wasted because of these disputes.

In Geneva, they agreed to stop most of the high taxes they had placed on each other for 90 days. This was done to reduce concerns about a possible economic downturn caused by their increasing trade conflict. Additionally, the World Bank lowered its predictions for economic growth in the U.S. and globally this year due to more trade limitations.

Cutler, a vice president at the Asia Society Policy Institute, said that the U.S. and China wasted important time in restarting their agreements from Geneva. He added that they now only have two months to talk about important issues like unfair trade, too much production, illegal shipping, and fentanyl.

Since their talks in Geneva, the U.S. and China have had disagreements about advanced computer chips for AI, visas for Chinese students at American universities, and rare earth minerals that are important for carmakers 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, China wants the U.S. to get rid of its restrictions on China's ability to use the technology for making advanced computer chips.

Lutnick said that solving the rare earths problem is a key part of the agreed plan, and the U.S. will remove the actions it had taken in response. He did not say which actions.

He said that our exports will probably go down once they approve the licenses.

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

By doing this, the U.S. has given China a chance to ask for export controls to be included in future talks, she said.

On Tuesday, a court in Washington allowed the government to continue collecting import taxes that Trump started. These taxes are on goods from China and many other countries. The government will keep collecting them while it appeals a decision against his main trade policy.

Trump said before that he wants to make it easier for American products to be sold in China, which is a very big manufacturing country.

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