With obscure names like lutetium and dysprosium, rare earths are used in everything from iPhones and magnetic resonance imaging machines to missile guidance systems. More recently, demand has been propelled by the green tech that is helping to cut carbon emissions.

The self-proclaimed dealmaker says Washington should have access to Ukraine’s riches in exchange for wartime aid.

Trump said that he wanted such a deal earlier this month, and it was initially proposed last fall by Ukrainian President Volodymyr Zelenskyy as part of his plan to strengthen Kyiv’s hand in future negotiations with Moscow.

Ukraine has offered to strike a deal with President Trump for continued U.S. military aid in exchange for developing Ukraine's mineral industry.

Trump has said he wants Ukraine to supply the United States with rare earth minerals as a form of payment for financially supporting the country's war efforts against Russia.