US President Donald Trump said Chinese leader Xi Jinping has agreed to restart the flow of crucial rare earth materials, after announcing a new round of US-China trade talks will be held in London on Monday.

President Xi Jinping has reportedly agreed to resume rare earth mineral and magnet exports to the US, potentially easing trade tensions. This follows a positive phone conversation between Trump and Xi,

China refines over 92% of the world's rare earth minerals, while mining 60% of the same, asserting a global dominance in the rare earth minerals and magnets front. Check why rare earths are important for the Chinese economy.