President Trump said the U.S. had signed a trade deal with China, while Commerce Secretary Howard Lutnick said the White House is close to agreements with several trading partners, ahead of the July 9 deadline.

The U.S. and China have agreed on the framework for a trade deal, both nations say. It appears that rare earth minerals are one key part of it.

The United States and China reached a "framework" agreement on how to facilitate rare earth shipments, implementing a deal based on bilateral trade talks that started last month in Geneva, Switzerland,