The Blubber

President Donald Trump stated that his administration seeks an agreement with Ukraine in which the war-torn nation would grant access to its rare earth resources in exchange for U.S. support in its defense against Russia.

“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 Monday at the White House. “We want a guarantee. We’re handing them money, hand over fist.”

Trump has expressed his intention to broker a negotiated resolution to the nearly three-year war between Russia and Ukraine, frequently criticizing former President Joe Biden’s financial and military aid to Kyiv. He has also urged President Vladimir Putin to reach a settlement, warning of additional sanctions and noting the war’s economic toll on Russia.

The U.S. has been Ukraine’s largest supporter since Moscow launched its full-scale invasion in February 2022. According to the Council on Foreign Relations, the U.S. has provided Ukraine with over $30 billion in budgetary aid and nearly $70 billion in security assistance as of September.

Trump also urged European allies on Monday to increase their contributions to Ukraine’s defense. “It’s more important for them than it is for us, but they’re way below us in terms of money,” he said.

China dominates the global rare earths industry, controlling approximately 70% of production and over 90% of refining. These minerals are critical for green energy technology, advanced weaponry, and various high-tech applications.

Trump has also indicated plans to leverage China’s influence over Putin to push for a resolution to the war. “They have a great deal of power over that situation,” he said late last month, adding that he had discussed the matter with Chinese President Xi Jinping.