Key Takeaways Negotiations between the U.S. and China continued into a second day Tuesday.The two sides seek to lower trade barriers they've imposed on one another in tit-for-tat fashion in recent months.

China's Vice Commerce Minister Li Chenggang said on Tuesday that the Chinese and the U.S. negotiating teams had agreed a framework on trade after two days of talks, and would take that back to their leaders.

One expert said he expected loosened controls on U.S. exports of semiconductors in exchange for China's releasing of more rare earths.