Trump said there was “tremendous wealth there and potential” in those nations and highlighted his efforts to drum up more deals with other economies in lieu of US foreign assistance.
“We’re shifting from aid to trade,” Trump added. “In the long run this will be far more effective and sustainable and beneficial than anything else that we could be doing together.”Trump also suggested he could exempt the assembled countries from his plans to impose heightened reciprocal tariffs beginning in August, saying the assembled leaders were “friends of mine now.”
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While the five countries whose leaders are visiting the White House rank among Africa’s smaller economies — with a combined gross domestic product of only around $75 billion, according to the International Monetary Fund — they’re rich in minerals and have the potential to produce far more than they do today.
The summit offers to help spur deals in a region of the world where the US is looking for more business opportunities, even as cuts to foreign aid and other programs raise worries that Washington is losing ground to Chinese influence.
But Trump’s event on Wednesday is also likely to fuel worries that the administration is neglecting the region. Trump urged the leaders to keep their remarks brief, saying he had to leave their gathering for another event. “Maybe we have to go quicker than this because we have a whole schedule,” Trump said.
Asked if Trump planned to visit the continent, the president demurred, saying he would like to plan a trip but needed “to see what the schedule is like.” The president also complimented the leader of Liberia — where the official language is English — on his speaking.
“Where did you learn to speak so beautifully? Where were you educated? Where in Liberia?,” Trump asked. “Well, that’s very interesting. It’s beautiful English. I have people at this table who can’t speak nearly as well.”
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Sourcing key critical minerals has been a priority for Trump’s administration as he seeks to reduce US reliance on China, which is dominant in the industry, and used rare earth materials as a bargaining chip in trade talks between the world’s largest economies earlier this year.
Rare earths are used in some of the most critical industries on earth, in products as varied as semiconductors, smartphones, clean energy and medical technology.
Notably absent from the gathering, however, were leaders from Africa’s biggest economies, including South Africa, which faces the introduction of a 30% reciprocal tariff by the Trump administration, and Nigeria, the continent’s largest oil producer. Nigeria was initially hit with a 14% tariff in April — lowered to a 10% rate during a negotiating period — and faces the threat that Trump may impose unilateral duties if a deal is not reached.
Ahead of the talks, Liberia’s government announced that it had signed a $1.8 billion agreement with Ivanhoe Atlantic Inc., majority owned by a company founded by Ivanhoe Mines Ltd. Chairman Robert Friedland. The deal will allow the US mining company to rehabilitate and use the country’s railway infrastructure to transport iron ore from neighbouring Guinea for export.
The Central African nation of Gabon, the world’s second-biggest producer of manganese — which is used to harden steel products — is expecting to discuss potential investments in its minerals industry, Gabon’s ambassador to the US, Noël Nelson Messone, said in an interview.
“The president of the republic is keen to see Gabon’s natural resources processed locally to add value to the economy, diversify the economy and create jobs,” he said.
Security issues are also high on the summit’s agenda. Four of the countries — excluding Gabon — are on the periphery of the unstable Sahel region, and may offer opportunities for cooperation in an area that’s been blighted by a decade-long Islamist insurgency and military coups in recent years.
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The importance has been heightened after the US was forced to shut its drone base in Niger last year, and has strained relations with Burkina Faso, Mali and Chad, which ended a security agreement with the US in April 2024.
Trump said he would encourage the countries to “make greater investments in defense, hopefully, of course, buying our equipment.” And he said he would raise the issue of immigration as his administration ramps up deportations of undocumented migrants.
Following is a list of potential investment opportunities the five countries offer:
Gabon
In addition to manganese, Gabon also has massive deposits of high-grade iron ore and is a member of OPEC, the oil cartel. Its government last month signed a $3.8 billion pact with the African Export-Import Bank to fund mineral and infrastructure projects in the country.
Guinea-Bissau
Guinea-Bissau in February signed four cooperation agreements with Russia to prospect for oil and gas, and explore deposits of bauxite and phosphate, used to make aluminium and fertiliser, respectively. Russian aluminium producer United Co. Rusal International PJSC plans to begin mining in the country. The US Drug Enforcement Agency is working with the authorities in the West African nation to curb cartel-linked cocaine trafficking.
Liberia
Liberia’s government announced earlier this year that it has deposits of critical minerals, including lithium, manganese, cobalt and neodymium that it hopes will attract $3 billion of investment. The Liberian government plans to lobby for US investment in its natural resources, including fisheries, the Monrovia-based Liberian Observer reported last week. The country is historically aligned with the US — it was founded in the 19th century as a homeland for salves freed in America.
Mauritania
The country began producing gas from BP Plc’s Greater Tortue Ahmeyim development last year. Like other African nations, including Mozambique and Tanzania, the country aims to use gas from projects led by international oil companies to industrialise its economy. The US International Development Finance Corp. is assessing a uranium project in the country.
Senegal
Senegal began exporting liquefied natural gas earlier this year. The country plans to develop more than three gigawatts of gas-to-power capacity by 2050 to reduce its dependence on oil and coal to generate electricity. The government announced in May that it is seeking to attract $1.7 billion of investment to build digital infrastructure, including data centers and high-speed internet connections.
