The U.S. and China have agreed on the framework for a trade deal, both nations say. It appeared critical rare earth minerals could be a key part of it.

Lutnick flagged that more trade deals are on the way, and that the president was prepared to finalize several deals ahead of the July 9 deadline.

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.