Commerce Secretary Howard Lutnick said Wednesday that U.S. tariff levels on Chinese imports will not change from their current levels, even as a trade deal between Washington and Beijing has yet to be finalized.

U.S.-China talks on trade have been “productive,” U.S. Treasury Secretary Scott Bessent said. After two full days of talks in London, Bessent said he was heading back to the U.S. for planned testimony to Congress on Wednesday.

U.S. stocks drifted just below their all-time high as the wait continues to hear what will come of trade talks underway between the United States and China.

BERLIN (Reuters) -Germany welcomes a China-U.S. agreement on easing rare-earth export restrictions and hopes negotiations between the United States and the European Union could be solved in a similar way, Chancellor Friedrich Merz said on Wednesday.

U.S. stock index futures edged lower on Wednesday after U.S.-China trade talks offered little sign of a durable resolution to their longstanding trade tensions, while investors turned their focus to a key inflation reading.