India, June 11 -- US President Donald Trump on Wednesday announced a trade agreement with China under which Beijing will supply rare earths to the United States upfront, and in exchange, his administration will permit visas for Chinese students.

In a Truth Social post, Trump announced that Beijing will supply the United States with "full magnets and all necessary rare earth materials."

In exchange for this, the US will let Chinese students study at American colleges and universities.

"Our deal with China is done, subject to final approval with President Xi and me. Full magnets, and any necessary rare earths, will be supplied, up front, by China. Likewise, we will provide to China what was agreed to, including Chinese students using our...