U.S. President Donald Trump said on Monday he wanted Ukraine to supply the country with rare earths in return for financially supporting Kyiv's war effort against Russia.

The U.S. president’s transactional approach builds on a suggestion Kyiv set out in its ‘Victory Plan’ aimed at retaining U.S. support.

The U.S. has imposed a 10% tariff on all Chinese goods, including rare earths, and China has retaliated with export controls on critical minerals.