Melissa Chen

military,

they require super magnets.

And those elements are refined and extracted by the Chinese.

I mean, at the end of this, we need to really ask ourselves how the hell we ended up in this situation.

But because of that, China has cards in the trade war.

And so when they were displeased about the tariffs, one of the first things they did was pass export controls, saying, all right, we're not going to export to you critical minerals that you need for the military.

And so Trump has to come to the negotiating table on these critical minerals to make sure that China does not extend the export controls and allows some of the rare minerals to get to the U.S.

To buy.

Right.

But that's why Trump has been signing critical minerals deals with Chile, with everybody.

Quietly, we've been doing things in Greenland as well.

And that's part of the critical minerals play.

But the other thing that Trump really wants from China is...

some kind of indication that China would help on the Iran issue.

And the reason for that is that China is actually very dependent on Iranian oil.

12% of China's oil is coming from Iran.

50% of China's oil comes from the Strait of Hormuz, from other parts of the Gulf.

So from Saudi, you know, from various parts.

And so...

Choking off Iranian oil has been China suffering quietly.