Trump Seeks "Equalization" With Ukraine by Trading Rare Earth Minerals for US Aid

US President Donald Trump stated that he wants Ukraine to provide the United States with rare earth minerals in exchange for the financial aid Washington has extended to Ukraine, according to Reuters on February 3.

Speaking to reporters at the White House, Trump stated that Ukraine was open to the idea, emphasizing his desire for “equalization” in return for what he described as “close to $300 billion” in US support.

“We’re telling Ukraine they have very valuable rare earths,” Trump said. “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.”

It was unclear whether Trump was referring specifically to rare earth elements or a broader category of critical minerals.

Rare earths are a group of 17 metals used in the production of magnets essential for electric vehicles, smartphones, and other electronics.

The US Geological Survey classifies 50 minerals, including some rare earths, nickel, and lithium, as critical to the US economy and national security.

Ukraine has significant deposits of uranium, lithium, and titanium, though none are among the world’s five largest by volume. Although China remains the world’s largest producer of rare earths and other essential minerals. The US also has untapped reserves of these and other critical minerals but currently operates only one rare earths mine with limited processing capacity.

A source in the Ukrainian President’s Office, speaking to the Kyiv Independent, said that sharing Ukraine’s resources with allies was included in President Zelenskyy’s “victory plan,” which was presented to foreign leaders, including Donald Trump on October 16, 2024.

“But for this, (Ukrainian) security must be guaranteed so that the Russians do not occupy this Ukrainian land,” the source told the Kyiv Independent.

The EU’s Green Deal and Fit for 55 Plan designate lithium as a critical raw material, aiming to secure local supplies as demand surges by 2030. Ukraine, with estimated reserves ranging from 500,000 tons to over 33 million, could be a key supplier.

“Ukraine’s potential for lithium extraction is undeniable,” said Ksenia Orynchak, Executive Director of NAEIM. “We rank among the top three in reserves, alongside Czechia and Serbia, with a strategic advantage due to our proximity to the EU.”