President Donald Trump is placing 'mineral' at the center of U.S. foreign policy as he returns to the White House. President Trump is taking a tough stance on resource-rich countries such as Ukraine, Greenland, and Canada, prioritizing U.S. resource security.
Major foreign media outlets, including Agence France-Presse and The New York Times (NYT), reported that President Trump and Ukrainian President Volodymyr Zelensky are scheduled to sign a mineral agreement at the White House on the 28th (local time). This agreement is said to involve the U.S. sharing benefits from mineral development with Ukraine and supporting its economic development. The Trump administration has been demanding equity in mineral development in exchange for weapons and budget support provided to Ukraine.
On the 25th, President Trump said at the White House, "I heard President Zelensky will come to the U.S. on Friday. Zelensky wants to sign the mineral agreement with me," adding that "this could be a $1 trillion (approximately 1,450 trillion won) transaction."
Earlier this month, U.S. Treasury Secretary Scott Pessen met with President Zelensky in Kyiv, but negotiations faced difficulties. The Trump administration proposed that Ukraine provide half of the revenue generated from natural resources and infrastructure, and President Trump has demanded minerals valued at $500 billion (approximately 725 trillion won), claiming this as compensation for arms and budget support provided to Ukraine during the Biden administration. Since then, the U.S. negotiating team has relaxed some conditions yet continues to exert strong pressure on Ukraine to finalize the agreement.
The New York Times (NYT) evaluated that "securing mineral resources overseas has become a key goal of President Trump's foreign policy," noting that "this is similar to how past empires pursued territorial expansion."
The reason President Trump is focusing on securing minerals is clear. Rare minerals are essential for key technologies in the U.S. economy and military capabilities. According to a recent report by the Center for Strategic and International Studies (CSIS), critical rare minerals essential for modern industries, from electric vehicle batteries to advanced weapon systems, are mostly mined and processed by China. In fact, the U.S. imports 41 out of the 50 essential minerals it needs, with 29 of those being produced by China, the world's largest producer.
President Trump has shown interest in mineral supply chain issues since his first term in 2017. Through his first executive order, he designated a list of essential minerals, and in 2020, he directed measures to reduce "excessive dependence on foreign adversaries."
The Biden administration attempted to diversify the mineral supply chain in cooperation with allies, but President Trump is taking a more direct approach to solving the issue. President Trump has also mentioned securing minerals from Greenland and Canada. NYT reported that "while the Biden administration has aimed to address climate change and develop green technologies, the Trump administration is approaching the issue based on economic and military interests."