Looks like he wants magnets as part of a trade deal. What part were you confused about?
Here's AI about rare earth magnets.
AI Overview
China's rare earth magnets are essential to numerous high-tech and defense industries globally, but China's dominance over their production gives it significant leverage in trade disputes. China controls about 90% of the global supply and is the primary refiner of rare earths, which are critical for everything from electric vehicle motors and wind turbines to advanced military systems like the F-35 fighter jet. Recent export restrictions, implemented by China in response to U.S. tariffs, have caused supply chain disruptions and have prompted countries like the U.S. to accelerate efforts to develop domestic rare earth supply chains.
China's Dominance & Leverage
- Global Supply:
China dominates the global rare earth magnet market, producing nearly 90% of them.