President Donald Trump suggested that China’s timing of announcing its export controls may be linked to the recent Middle East peace deal and said the U.S. could respond using its own resource monopolies.
Shares of rare earth companies jumped in midday trade on Friday after President Donald Trump warned of a “massive increase in tariffs” on Chinese products after the country announced restrictions on its global supply of rare earth materials.
USA Rare Earth (USAR) led the gains, climbing more than 15%, while MP Materials (MP) rose as much as 14% and American Rare Earths (ARR) added 12% in midday trade.
In a post on Truth Social, Trump claimed China has become “hostile” and is sending letters to countries worldwide announcing plans to impose export controls on rare earth elements and other critical materials, including some not produced in China. He described the move as a long-standing effort by China to monopolize rare earths and magnets, calling it a “sinister” strategy aimed at global dependency.
The U.S. President suggested the timing may be linked to the recent Middle East peace deal and said the U.S. could respond using its own resource monopolies. He added that any U.S. response could cause short-term disruption but would ultimately strengthen America’s strategic position in critical materials.
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