China's reaction comes as Trump says he would like to 'just send letters out to everybody: ‘Congratulations, you're paying 25 percent''

Washington and Beijing have signed a trade agreement that will make it easier for American firms to obtain magnets and rare earth minerals from China that are critical to manufacturing and microchip production.

The United States has reached an agreement with China on how to expedite rare earth shipments to the U.S., a White House official said on Thursday, amid efforts to end a trade war between the world's biggest economies.