The renewed U.S.-China trade truce struck in London left a key area of export restrictions tied to national security untouched, an unresolved conflict that threatens a more comprehensive deal, two people briefed on detailed outcomes of the talks told Reuters.

Retail sales jumped 6.4% from a year earlier in May, sharply beating analysts' estimates for a 5% growth and accelerating from the 5.1% growth in the previous month. Growth in industrial output slowed to 5.

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.

Chinese state media say that the U.S. and China have agreed in principle on a framework to resolve their trade disputes.

China’s May economic activity data showed a mixed picture, as ongoing trade frictions with the U.S. continued to weigh on growth. A key measure of domestic consumption grew faster than expected, buoyed by Beijing’s consumer subsidy push.

New bank lending in China rose less than expected in May after hitting a nine-month low in April, as companies and consumers remained cautious about taking on more debt despite interest rate cuts and a trade truce between Beijing and Washington.

The only scenario in which China might deregulate its critical minerals export is if the U.S. fully removes tariffs imposed on Chinese goods as part of the trade war, said Wang Yiwei, a professor of international affairs at Renmin University, echoing the Chinese government’s earlier stance.

President Donald Trump's eventful week included securing a preliminary trade deal with China, deploying National Guard troops to Los Angeles, and responding to Israel's strikes on Iran.