Trump Eyes Rare Earths Deal with Ukraine for Aid Compensation

Donald Trump proposed that Ukraine supply rare earth minerals to the U.S. as repayment for financial assistance during its war with Russia. Trump claims Ukraine is willing to consider the deal amid the critical role of rare earths in technology. The U.S. currently relies heavily on imports.

In a bid to offset financial support given to Ukraine, former U.S. President Donald Trump suggested on Monday that the nation provide rare earth minerals to the United States. The proposal comes as a response to aiding Ukraine in its ongoing conflict with Russia.

Speaking at the White House, Trump highlighted Ukraine's willingness to cooperate, stating that he seeks "equalization" for the approximately $300 billion in support provided by Washington. "We're looking to do a deal with Ukraine where they're going to secure what we're giving them with their rare earths and other things," he emphasized.

While the specifics of the deal remain unclear, the backdrop reveals the U.S.'s dependency on countries like China for its rare earth supply. The U.S. possesses only one operational rare earths mine, though efforts are in place to develop further domestic production.

(With inputs from agencies.)