The statement came after U.S. President Donald Trump said that both sides had signed a trade deal, without providing further details.

The U.S. and China have agreed on the framework for a trade deal, both nations say. It appeared critical rare earth minerals could be a key part of it.

As the U.S. and China finalized a trade agreement, Beijing pitched itself at the “Summer Davos” summit as an antidote to global economic “confusion and anxiety.”