President Trump is eyeing an energy deal with China, he said in a social media post Thursday.
He said in a post on Truth Social that Beijing has agreed to begin purchasing U.S. energy and that a “very large scale transaction” related to oil and gas from Alaska “may take place.”
“Chris Wright, Doug Burgum, and our respective Energy teams will be meeting to see if such an Energy Deal can be worked out,” he added, referring to the secretaries of Energy and the Interior, respectively.
The announcement comes as part of a larger trade agreement announced between the U.S. and China, but it also marks Trump’s latest attempt to try to sell U.S. energy abroad.
In addition, he said progress had been made with China regarding rare earth elements — minerals that can be used in a variety of applications, including electronics, health care and batteries.
These minerals can be difficult to come by because they tend to occur in small deposits and can be expensive to mine.
China had previously announced restrictions on rare earth exports.
“All of the rare earth has been settled — and that’s for the world,” Trump said.
“That roadblock is gone now. There is no roadblock at all on rare earth,” added the president, who recently completed a multi-day trip to East Asia.
Trump said the U.S. and China have a one-year agreement “and we’ll extend it after a year.”
China is a particular minerals hub, home to processing facilities that get these elements ready for other issues.
Trump has also long been on a quest for rare earth elements, also pushing the issue with countries including Ukraine.
