Shares of U.S. rare earth miners rallied in premarket trade on Tuesday, extending sharp gains from the previous session after U.S. President Donald Trump threatened China with 100% tariffs over Beijing's strict export controls on critical minerals.

Critical Metals jumped more than 27% in premarket, USA Rare Earth rallied 10% and MP Materials rose 7%. Shares of Energy Fuels were last seen up 11%, while NioCorp Developments stood nearly 9% higher.

The moves come as investors keep a close eye on the potential for a renewed trade spat between the world's two largest economies.

Trump on Friday announced the U.S. would impose new tariffs of 100% on imports from China starting from Nov. 1, adding that the White House would also slap export

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