Beijing insists it has met its commitments to “suspend or cancel” its nontariff retaliatory measures to Trump’s April 2 “Liberation Day” tariffs. China announced restrictions on seven rare earths and magnets on April 4, although it never officially said this was in retaliation.

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.

A group representing auto suppliers in the United States called on Wednesday for immediate action to address China's restricted exports of rare earths and other minerals, warning the issue could quickly disrupt auto parts production.