Donald Trump demands veto powers over Chinese or Russian investment in Greenland

Donald Trump has demanded powers to veto any future Chinese or Russian investment in Greenland, a new report has revealed.

The Trump administration aims to prevent Beijing from accessing mineral reserves buried under the ice of the Arctic island.

It has become one of Washington's key objectives, Diplomatic sources have revealed.

The US, Greenland, and Denmark are working together to secure a deal to achieve collective goals, including an alternative to President Trump's ambitions to secure the territory, the Telegraph reports.

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Mr Trump has been pushing for greater US control over Greenland, a semi-autonomous territory of Denmark.

Talks have been held in Washington DC and are understood to be ongoing.

Greenland sits atop one of the world's richest geological vaults, holding vast deposits of rare-earth elements and critical minerals.

Geologists have verified that the island contains 25 out of the 34 raw minerals classified as highly critical by the European Union.

President Trump is thought to view these materials as a strategic reserve in the event of a war with China.

China uses crucial materials for high-tech production, including electric cars, missiles, radar systems, and fighter jets.

The asian giants control 90 per cent of the world’s processing capacity and its mines account for around 70 per cent of the global supply of rare earths.

One source close to the Greenland negotiations told the publications that Washington was using these concerns about China as an excuse to gain a greater foothold in Greenland.

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Another added that the US would only start extracting from beneath the ice if Beijing puts a squeeze on global supplies.

It is thought that the Iranian blockage of the Strait of Hormuz has highlighted the impact a single country can have on international trade to those in the US capital.

The proposed veto powers would stop firms linked to Beijing from brokering infrastructure or resource deals on the island’s territory.

US negotiators have also insisted on a similar clause in a trade deal with Britain, which would allow Washington to raise concerns about potential Chinese takeovers in the UK.

It comes as President Trump visited China in a two-day visit, the first by a US President in almost a decade.

The visit is understood to have heightened the President's worries about Beijing.

During the visit, the US agreed to allow 10 Chinese firms to purchase Nvidia's second-most powerful chip, the H200, in a move that reflects a more collaborative sentiment between the two superpowers.

Mr Trump also told Fox News the Chinese had agreed to purchase 200 Boeing jets from the American aeroplane manufacturer.

Both leaders also discussed "ending the flow of fentanyl precursors" entering the US, as well as China buying American-produced agricultural products, the White House said.

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