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.

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.

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.