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.

U.S. stock futures are lower before May inflation data and details of a U.S.-China trade deal. After two days of talks in London, U.S. and China representatives said they reached a trade agreement and will now seek approval on the framework from the U.