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US President Donald Trump announced on Monday that he is preparing a 'huge' agreement to buy potash, a mineral primarily used as fertilizer, with Russia's ally Belarus.
Trump said via his platform 'Truth Social' that 'the prices will be much lower than what we pay today to Canada,' which is currently the leading supplier to the United States by a significant margin.
This announcement comes amid a heated trade dispute between the United States and Canada.
The United States imports almost all the potash used in the country. In 2024, 79% of these imports came from Canada, followed by Russia (11%) and Belarus (4%), according to data from the US government agency 'USGS'.
The 2022 Russian invasion of Ukraine led to a sharp rise in potash prices. Although prices have since dropped slightly, they remain at high levels.
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