The arrangement shows how Trump is squeezing both ends of international trade when it comes to technology, using the threat of sky-high tariffs to get concessions from China on rare earth minerals and forcing companies to pay extra taxes in exchange for the right to sell goods to China.

With one day to go until the US-China tariff deadline, Trump has yet to decide on an extension, leaving business bracing for impact.

The U.S. dollar was little changed on Monday before Tuesday's deadline for Washington and Beijing to strike a tariff deal and a key U.S. inflation report that could help determine whether the Federal Reserve lowers borrowing costs next month.