President Donald Trump confirmed Wednesday that the United States and China have come to an agreement over trade and the acquisition of rare earth minerals.

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.

A global auto manufacturing slowdown could begin in weeks as China’s export restrictions on rare earth minerals continue to choke supply chain

China said it would cooperate further with other countries over its rare earth export controls as shortages put auto and semiconductor makers in Europe and India at risk of closure.