The US's interest in Greenland has made rare-earth stocks the latest Trump trade, and the looming Trump-Xi summit will decide whether the rally has legs. Chinese president Xi Jinping's White House visit this week is a massive deal politically, and a main talking point will be rare-earth minerals, which help power the minuscule magnets inside phones, EVs, headphones, wind turbines, and are crucial for data centers and military items like fighter jets and missiles. The reason Trump wants to discuss rare earths is simple: China is sitting on the supply stash, and the US wants in on that. There's already been a reduction in rare earth shipments from China.
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