By Nectar Gan, CNN

Hong Kong (CNN) — US President Donald Trump said Chinese leader Xi Jinping has agreed to restart the flow of crucial rare earth materials, after announcing a new round of US-China trade talks will be held in London on Monday.

Trump made the comments a day after holding his long-awaited phone call with Xi, during which the two leaders agreed to resume negotiations stalled over mutual accusations of violating the truce reached in Geneva last month.

For Washington, a major sticking point has been China’s export restrictions on rare earth minerals and magnets, which are essential for everything from cars to fighter jets, and critical to American industries and defense.

In the weeks since the fragile detente, Washington has accused Beijing of slow-walking approvals for ra

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