United States Commerce Secretary Howard Lutnick and China's Vice Commerce Minister Li Chenggang indicated that the two sides reached a trade framework based on a consensus achieved in Geneva.

Chinese and US negotiators "have, in principle, reached a framework for implementing the consensus reached by the two heads of state during the phone call on June 5th and the consensus reached at the Geneva meeting," Li told reporters.

"We have reached a framework to implement the Geneva consensus and the call between the two presidents," Lutnick said, echoing the statement.

Both Lutnick and Li noted that the framework would be reported to the leaders of their respective countries, as it requires US President Donald Trump's and Chinese President Xi Jinping's approval before being implemented.