The Philippine president has doubled down on having close relations with the US during his term, which has caused some tensions with Beijing.

President Donald Trump says a trip to China may happen soon, hinting at efforts to stabilize U.S.-China trade relations.

China wants to bring its trade ties with the U.S. back to a stable footing, its commerce minister said, adding that recent talks in Europe showed there was no need for a tariff war while urging the U.

China recently banned a foreign Wells Fargo executive and a United States government employee from leaving its territory, spotlighting its opaque judicial and security system and rekindling concerns over the risks facing foreign companies and nationals operating there.

The US-China trade deal is likely a precursor to certain other agreements on Fentanyl and Nvidia semiconductor chip exports, but an eventual decoupling is inevitable.

The Chinese commerce ministry said on Friday that Beijing and Washington had stepped up efforts to implement what they had agreed during recent trade talks but cautioned the U.S. against destabilising their "hard-won" consensus.

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.

US-China trade talks in London this week are expected to take up a series of fresh disputes that have buffeted relations, threatening a fragile truce over tariffs.

China still maintains tariffs on 58.3 percent of its imports from the United States; the United States imposes tariffs on 66.4 percent of the products it brings in from China, according to Mr. Bown.