Why is Trump suddenly obsessed with rare earths?

Donald Trump is talking about rare earth elements like they are magic rings with the power to unlock world domination. 

The US President is on the brink of signing a multi-billion dollar deal with Ukrainian President Volodymyr Zelenskyy, that would give the US access to Ukraine's rare earth minerals in exchange for financial security and continued military support in the war with Russia. Rare earths are critical for manufacturing electronics, batteries, magnets, and military weapons. 

But are these rare earth elements actually as rare and valuable as Trump has been led to believe? 

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