The U.S. and China have agreed on the framework for a trade deal, both nations say. It appears that rare earth minerals are one key part of it.

As the U.S. and China finalized a trade agreement, Beijing pitched itself at the “Summer Davos” summit as an antidote to global economic “confusion and anxiety.”

The US and China finalized a trade understanding reached last month in Geneva, US Commerce Secretary Howard Lutnick said, adding that the White House has imminent plans to reach agreements with a set of 10 major trading partners.