Donald Trump is set to meet with Chinese President Xi Jinping in a historic meeting this week after a "framework" for a trade deal was agreed. American officials said negotiators from both sides had hashed out terms for agreements for lower US tariffs on Chinese imports and Chinese concessions on rare earth export curbs.

Global companies have a long list of concerns around the U.S.-China trade war.

Officials said the two nations had come to an agreement in which the U.S. tariffs are halted and China postpones its export licensing plan for a year.