President Donald Trump and officials from China announced that they have agreed on a framework for a trade deal between the two major economic powers.

China and the US have reached a "done deal" that includes rare earth exports from China and Chinese students attending colleges in the US, President Donald Trump said on Wednesday, pointing to a potential breakthrough aimed at easing trade tensions that were reignited by mutual accusations of deal violations.

Beijing has gained time to build up its own strengths by drawing out negotiations with the United States, using its chokehold over critical minerals.