US President Donald Trump stated that a meeting with China’s leader, Xi Jinping, on Thursday removed the “roadblock” on rare earths, leading to a one-year, extendable agreement on the supply of these essential minerals.
China maintains a de facto monopoly over “rare earth” metals, which are crucial for a wide range of applications, including domestic goods, automobiles, energy production, and weaponry.
“All the rare earths have been finalised, and that is for the world,” Trump informed reporters aboard Air Force One, noting that the agreement is for one year and would be renegotiated annually.
During his tour of Asia, Trump finalised an agreement with Japan to ensure the supply of essential minerals and rare earth elements.
“There are no obstacles regarding rare earths — that term should hopefully be absent from our discourse for some time,” he stated.
