As U.S. and Chinese officials concluded trade talks this week, new data shows massive tariffs drove Chinese imports to their lowest levels in more than five years. U.S. tariffs on Chinese goods topped out at 145% in April when the Census Bureau collected trade data that showed a continuing decline in Chinese imports from March.

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.

The treasury secretary's remarks indicate the Trump administration might be more inclined to shift the self-imposed deadline as it gets closer.

US stocks closed higher as investors wait for news from another day of China-US trade talks in London. Key inflation data are also ahead.

• Semtech has a price-to-sales (P/S) ratio of 3.4 against a figure of 3.0 for the S&P 500 • Additionally, the company's price-to-free cash flow (P/FCF) ratio is 52.6 compared to 20.5 for the S&P 500

The broad index is now less than 2% below its all-time high.

US stocks edged higher on Tuesday as renewed US-China trade talks entered their second day after an upbeat initial meeting. Both the S&P 500 and Nasdaq are now within striking distance of their all-time closing highs — 6,

Canadian Prime Minister Mark Carney said he hopes to secure a commercial and security agreement soon with US President Donald Trump, though he tamped down expectations that a deal will be ready in time for the Group of Seven summit in a few days.