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.

U.S. President Donald Trump said on Friday that Chinese President Xi Jinping agreed to let rare earth minerals and magnets flow to the United States, a move that could lower tensions between the world's biggest economies.

China has approved a limited number of export licenses for rare earth-related metals, integral to manufacturing sectors like automobiles and semiconductors. The move aims to address rising global demand while balancing national security and international trade obligations.