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 Donald Trump said his Chinese counterpart Xi Jinping had agreed to restart the flow of rare-earth materials, as negotiators from the two nations prepare to resume trade talks on June 9 in London.

China refines over 92% of the world's rare earth minerals, while mining 60% of the same, asserting a global dominance in the rare earth minerals and magnets front. Check why rare earths are important for the Chinese economy.