China’s Commerce Ministry said over the weekend that it had approved some export licenses for rare-earth-related products, a move seen as a goodwill gesture.

The meeting follows a phone call with China's President Xi Jinping that Trump said reached a "very positive conclusion."

Officials from the U.S. and Chinese governments are all set to meet in London on Monday to engage in talks to resolve trade disputes between the world’s top two economies. National Economic Council Director Kevin Hassett told CNBC that the Trump administration was seeking confirmation from China that it would restore access to critical rare-earth