The U.S. will keep high tariffs on Chinese goods, President Donald Trump announced, touting a framework that he and Chinese President Xi Jinping will need to OK.

The US has reached a new trade agreement with China under which all Chinese imports will face a 55% tariff, while American exports to China will be subject to a reduced 10% tariff. This was the result of two days of talks between diplomats from the two nations in London.

U.S. and Chinese negotiators agreed to try again to implement the trade war truce that had collapsed after it was reached during an earlier round of talks in Geneva.