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

US stock futures wavered as Wall Street digested the progress on US-China trade negotiations, a fresh legal ruling on President Trump tariffs, and braced for the release of the May inflation report.

From day 1 of US-China trade talks to Chinese state media pouncing on chaos in Los Angeles, here’s a round-up from today’s coverage.