China signaled it would approve the export of rare earth minerals in a statement Friday hours after White House officials said that the US and China had signed a trade agreement to work out tensions linked to US access to the key material.

China confirmed a trade framework with the US lifting curbs on rare earth exports while Washington ends punitive measures targeting Chinese firms.

The announcement offered hope of a reprieve on shortages that have hit American industry, and came after President Trump said he signed a deal with China.