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.

News of the call came as new data showed U.S. goods imports dropped significantly in April as sweeping tariffs rolled out.

President Trump said China's Xi agreed to resume rare earth mineral exports to the U.S. after an April halt, marking progress in trade negotiations between the two countries.