The U.S. and China have reached an agreement — again — to deescalate trade tensions. China is making it easier for U.S. companies crucial magnets and rare earths materials.

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.

A deal could end months of uncertainty about tariffs on China, but questions still remain. Here's what it means for business owners.