President Trump said China's Xi agreed to resume rare earth mineral exports to the U.S. after an April halt, marking progress in trade negotiations between the two countries.

U.S. President Donald Trump said on Friday that Chinese President Xi Jinping agreed to let rare earth minerals and magnets flow to the United States, a move that could lower tensions between the world's biggest economies.

Beijing has approved more export licenses for the critical minerals and magnets in recent days, but supplies remain scarce and factories in the West are running out.