** Lynas Rare Earths LYC.AX slips 7.6% to A$8.655; on track for biggest intraday pct drop since November 15, 2022

** Stock among worst performers on ASX 200 index .AXJO

** U.S. and Chinese officials agreed on a framework to put their trade truce back on track and remove China's export restrictions on rare earths

** Glyn Lawcock, Head of Mining Research at Barrenjoey, says de-escalation seen as negative for rare earths

** Notes prospect of rare earth availability declining and thus prices rising had been a tailwind for co in recent weeks

** LYC is the world's biggest rare earths producer outside China

** YTD, LYC gains 34.5%

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((JasmeenAraIslam.Shaikh@thomsonreuters.com;))