- President Donald Trump said he wants Ukraine to “do a deal” with the US.
- He said Ukraine should give the US rare earth metals in exchange for support in its war with Russia.
- Rare earth metals are used in everything from electric vehicles to fighter jets.
President Donald Trump said he wants Ukraine to give the US rare earth metals in exchange for aid in its war with Russia.
Speaking to reporters at the White House on Monday, the president said he wanted to get guarantees on a supply of “very valuable rare earth” materials from Ukraine in return for US military equipment.
“We’re looking to do a deal with Ukraine where they’re going to secure what we’re giving them with their rare earth and other things,” Trump said.
Trump added that he is “working some deals right now.”
According to the State Department, the US has provided $65.9 billion in military assistance to Ukraine since Russia’s invasion on February 24, 2022.
Rare earth metals like uranium, lithium, and tantalum are used in the production of everything from smartphones to electric car motors and F-35 stealth fighters. In 2020, they were listed as critical materials essential for maintaining US economic and national security.
US stockpile levels of rare earth materials have not been made public. Experts told BI in June that they estimate US stockpile levels are far below what they would need to be if a war were to break out.
Gregory Wischer, a mineral consultant for Dei Gratia Minerals, told BI in June that the Department of Defense’s consumption rate of rare earth minerals is also unclear.
China holds an edge over the US in its supply of rare earth materials, producing 60% of the world’s supply and refining 90% of it, according to a 2023 report by the International Energy Agency.
Trump’s comments on rare earth metals come as he has issued and then retracted a series of tariff orders. The Trump administration said Saturday it had imposed a 25% tariff on goods from Canada and Mexico and a 10% tariff on China.
However, Trump paused tariffs on Mexico and Canada for 30 days after both countries agreed to meet some of his demands on border issues.
Representatives for Trump and Ukraine’s foreign ministry did not respond to requests for comment from Business Insider, sent outside regular working hours.
