President Donald Trump and President Xi Jinping reached a trade truce during a high-stakes meeting in South Korea on Thursday, de-escalating a dispute over rare earths elements that had threatened to push the world's two largest economies into a full-blown trade war.

China agreed to pause for one year the sweeping export controls on rare earths announced on Oct. 9 that had touched off the dispute.

Trump told reporters aboard Air Force One that the rare earths agreement is a one-year deal that will be "very routinely extended as time goes by." The president said he plans to visit China in April and Xi will come to the U.S., either Palm Beach, Florida or Washington, D.C., at a later date

"We have a deal," Trump said. "Now, every year we'll renegotiate the deal, but I think the deal

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