Donald Trump says the US has reached a trade deal in China after two days of talks, with tariffs to be adjusted in exchange for rare earth metals

US President Donald Trump on Wednesday announced progress in trade negotiations with China, highlighting a new agreement that would see Beijing supply the world's biggest economy with "magnets, and any necessary rare earths."

Rare earth elements are critical for various high-tech industries, and China is the world's dominant supplier. The agreement marks a potential de-escalation in trade tensions between the two economic powers.

The deal follows two days of talks in London, where rare earth exports were a major point of contention. Trump said the agreement — pending final approval from both him and Chinese President Xi Jinping — also includes a provision allowing Chinese students to continue studying at US colleges.

More to come...