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 Trump said China's Xi agreed to resume rare earth mineral exports to the U.S. after an April halt, marking progress in trade negotiations between the two countries.

Beijing insists it has met its commitments to “suspend or cancel” its nontariff retaliatory measures to Trump’s April 2 “Liberation Day” tariffs. China announced restrictions on seven rare earths and magnets on April 4, although it never officially said this was in retaliation.