The deal includes the U.S. rolling back some export restrictions on advanced technology in exchange for China's release more rare earths. In other trade news, President Donald Trump's administration is close to a deal with Mexico to lift the 50% tariff on a limited amount of imported steel,

Two days of trade talks between the U.S. and China in London resulted in an agreed-upon "framework" to implement a trade deal reached last month, Lutnick says.