By Jeff Mason, Alistair Smout and Doina ChiacuWASHINGTON/LONDON (Reuters) -President Donald Trump on Wednesday said he was very happy with a trade deal that restored a fragile truce in the U.S.-China trade war,

Semiconductors are quickly taking their place as perhaps the world’s most coveted products.

But a closer look at the fine print reveals this so-called deal may not be all it's cracked up to be.

The U.S. Navy said aircraft carrier operations in the South China Sea are part of its routine presence in the Indo-Pacific region.

The incident followed the sighting in recent days of two Chinese aircraft carriers sailing in the Pacific simultaneously for the first time.

The United States and China have agreed on a framework to implement their trade truce, officials on both sides said Wednesday, after concluding two days of talks in London to defuse tensions and ease export restrictions that threaten to disrupt global manufacturing.

President Donald Trump announced Wednesday that the United States will get magnets and rare earth minerals from China under a new trade deal and that tariffs on Chinese goods will go to 55%.

American and Chinese negotiators in London said both sides agreed on a framework on how to implement the consensus the two sides reached in the prior round of talks in Geneva.