Several government-backed automakers also pledged to standardize bill payment for suppliers to 60 days.

Electric vehicle makers in China, led by the country’s market leader BYD, have been engaged in a bruising price war, depressing profits in the industry.

Chinese tech giant Huawei (HWT.UL) launched its Pura 80 smartphone series on Wednesday, as the company seeks to cement its comeback in China's premium smartphone market following years of U.S. sanctions.

US Commerce Secretary Howard Lutnick said the deal should result in restrictions on rare earth minerals and magnets being resolved. Both sides said they would now take the plan to their presidents - Donald Trump and Xi Jinping - for approval.

Chinese plastics makers are showing tentative signs of reviving US propane purchases as the two economies seek to mend ties.

US coffee chain exploring partnership with outside investor to restore growth amid intense pricing competition

America wants to restore the truce it thought it had secured a month ago in Geneva. In particular, it wants China to ease controls on rare-earth exports, and the magnets that contain them. The discussions are “going

Beijing is arguably in a stronger position than Washington, as it can navigate shortages in advanced chips better than the U.S. can do without rare earths.

Chinese rare earths magnet producer JL MAG Rare-Earth said on Wednesday it had obtained export licences for rare earths products including magnets, motor rotors and components to regions including the U.