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.

High-stakes trade negotiations between the U.S. and China continued into a second day Tuesday, as both sides sought to defuse a trade war that threatens both economies.

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.