After the two-day high-level talks held in London this week, US President Donald Trump has announced that there is an important agreement between the US and China for a trade war agreement. He has posted on his own social media platform Truth Social saying 'Don't deal'. The Chinese side has responded that the framework for the agreement reached between the two sides has been agreed upon.

According to Trump, China has agreed to supply magnets and rare earth metals to American technology companies. Instead of that, the US has also agreed to withdraw the threat of canceling the visas of Chinese students, according to the BBC news.

"Our agreement with China has been completed, but President Xi and I have yet to reach a formal agreement for final approval," Trump wrote on Truth Social. The White House said on Wednesday that Trump is reviewing the details of the agreement.

American and Chinese officials have stated that the London talks have prepared a framework for the implementation of the provisional agreement reached in Switzerland in May 2025. "Both sides have agreed in principle to the implementation framework of the decisions of the Geneva meeting and the telephone conversation between the two presidents on June 5," China's Vice Minister of Commerce Li Chenggang and US Commerce Secretary Howard Lutney said the same.

This meeting was held to discuss a new round of negotiations to reduce tensions arising from the US-China trade war. Earlier, both economies were hit by trade restrictions and mutual tariff hikes. According to Al Jazeera, Trump says that China will start supplying rare earth metals to the US immediately. But it is not clear what it means. 

Semiconductor chip, electric vehicle to smartphone manufacturing needs these minerals.  China has overwhelming control over the rare mineral market. About 60 percent of the world's rare minerals are produced in China and about 90 percent of the processing is done in China.