In return, Trump said, the U.S. will provide China "what was agreed to," including allowing Chinese students to attend American colleges and universities.

U.S. Commerce Secretary Howard Lutnick said on Wednesday that a trade framework and implementation plan agreed with China in London should result in restrictions on rare earths and magents being resolved.

U.S. President Donald Trump says the U.S. will get magnets and rare earth minerals from China in a deal and tariffs on Chinese goods are going to 55%. Several global brands are among dozens of companies at risk of using forced labor through their Chinese supply chains because they use critical minerals or buy minerals-based products