After two days of talks in London, China and the U.S. announced the outlines of an agreement to honor a deal they agreed to last month in Geneva.

The president said he and Chinese President Xi Jinping still need to sign off on a preliminary deal, even though he called it "done."

Control over the critical minerals has given Beijing a powerful tool in its trade fight with Washington.

After two days of talks in London, the U.S. and China have agreed in principle on a framework to carry out an agreement they reached on resolving their trade disputes last month, Chinese state media said.

The U.S. and China have agreed on a "framework" to resolve some disputes that threatened to derail fragile talks between the two countries.

US Treasury Secretary Scott Bessent will testify before the House Ways and Means Committee on Wednesday, where he will be questioned about the progress of trade negotiations with China and the "big, beautiful" tax and spending bill working its way through the Senate currently.

A fully integrated rare earth supply chain within the U.S. is doable—with government support and private-sector innovation.

The deal includes the U.S. rolling back some export restrictions on advanced technology in exchange for China's release more rare earths. In other trade news, President Donald Trump's administration is close to a deal with Mexico to lift the 50% tariff on a limited amount of imported steel,