US‑Ukraine mineral pact: $350 billion (CAD 483 billion) deal for strategic resources
The United States and Ukraine have signed an economic cooperation agreement. "We made a deal today where we get, you know, much more in theory, than the $350 billion (CAD 483 billion)," commented US President Donald Trump.
What do you need to know?
- What was signed? The United States and Ukraine have entered into an economic cooperation agreement that provides the US with access to Ukrainian rare earth minerals in exchange for the establishment of an investment fund in Ukraine.
- "We made a deal today where we get, you know, much more in theory, than the $350 billion," commented US President Donald Trump.
- Why is it important? The agreement aims to bolster Ukraine's economy and ensure the US has access to critical raw materials.
What are the details of the mineral agreement?
The United States and Ukraine have signed an agreement to enhance economic cooperation between the two countries. This agreement ensures the US access to Ukrainian rare earth minerals, which are essential for many modern technologies. In return, the United States has pledged to establish an investment fund in Ukraine to support the country's economic development.
"This agreement signals clearly to Russia that the Trump administration is committed to a peace process centered on a free, sovereign, and prosperous Ukraine over the long term," said US Treasury Secretary Scott Bessent.
Trump comments on the signing of the agreement
President Donald Trump remarked on the signing of the agreement, noting that the United States signed it because "they wanted to be protected." He also mentioned that the agreement could potentially impact Russian President Vladimir Putin, although he did not elaborate on how.
"We made a deal today where we get, you know, much more in theory, than the $350 billion (CAD 483 billion), but I wanted to be protected," said Donald Trump in a conversation with NewsNation. "I didn’t want to be out there and look foolish," he added.
