China’s restrictions on exports of rare earth minerals and magnets to the US will be resolved as a “fundamental” part of the framework agreement, Lutnick said, according to Reuters.

President Trump said yesterday that the U.S. and China had struck a deal to roll back some of the punitive measures they had taken against each other’s economies in recent months.

China dominates the world’s supply of such minerals and the magnets made from them that are used in cars, airplanes, robots and semiconductors.

The trade deal, which needs to signed by both Trump and Chinese President Xi Jinping, would remove Chinese export restrictions on rare earth minerals and other critical industrial components.

U.S. inflation rose 0.1% in May, less than expected despite concerns about Trump's tariffs.

British finance minister Rachel Reeves will divide up more than 2 trillion pounds ($2.7 trillion) of public spending on Wednesday in a speech she hopes will foster a sense of national renewal and make...