President Donald Trump has announced that a significant deal regarding critical minerals will be signed "very shortly," as he pushes forward with efforts to reduce the United States' reliance on foreign imports. Trump has been particularly eager to gain access to Ukraine's critical minerals, a move aimed at strengthening America's domestic supply chain.
In a bid to expand domestic production, President Trump has invoked emergency powers. This decision is part of a broader strategy to minimize dependence on imports from nations like China, which currently has substantial control over the supply chain of certain critical minerals. The President has emphasized the importance of this initiative for national security.
"Our national and economic security are now acutely threatened by our reliance upon hostile foreign powers' mineral production."
- US President Donald Trump
The executive order also aims to accelerate permits for mining and processing projects, directing the US Department of the Interior to prioritize mineral production on federal lands. This action is expected to boost domestic production and provide American firms with alternative sources for these vital materials.
Trade tensions have risen as Trump's tariffs on a wide range of imports have affected relations with major suppliers, including China and Canada. The trade war with China continues to escalate, particularly after Beijing's recent ban on the sale of certain critical minerals to the US. This situation has compelled American companies to seek other sources for these essential resources.
Beyond domestic efforts, the US is actively negotiating a potential deal with the Democratic Republic of Congo over its mineral resources. Furthermore, Trump has shown interest in the semi-autonomous Danish territory of Greenland, which is abundant in rare earths, further illustrating his commitment to securing mineral resources from various global locations.
"We're also signing agreements in various locations to unlock rare earths and minerals and lots of other things all over the world, but in particular Ukraine."
- US President Donald Trump