President Trump announced Wednesday morning that he has secured a significant deal with America’s biggest economic and military rival, with one critical detail stoking controversy even among his biggest supporters.
Trump wrote on Truth Social that he had completed a new agreement with Chinese dictator Xi Jinping. The first part of the agreement is that the U.S. will receive magnets and “any necessary” rare earth metals from China.
This is critical because China produces roughly 60% of all the world’s rare earth metals and processes nearly 90% of them. If China decided to cut off America from these materials, this could qualify as a nuclear option on their part.
“Our deal with China is done, subject to final approval with President Xi and me,” Trump wrote in all caps. “Full magnets, and any necessary rare earths, will be supplied, up front, by China.”