China has reported its exports rose 4.8% in May from a year earlier, lower than expected as shipments to the United States fell nearly 10%

China sets six-month limit on the easing of export controls on vital rare earth minerals and magnets necessary for key sections of US industry.

One expert said he expected loosened controls on U.S. exports of semiconductors in exchange for China's releasing of more rare earths.

U.S.-China trade talks in London this week are expected to take up a series of disputes that have buffeted relations.

U.S. President Donald Trump took to his social media platform, Truth Social, on Wednesday to proclaim that a deal with China was “done,” pending final approval from himself and Chinese President Xi Jinping.