Donald Trump and Anthony Albanese announced an agreement on rare earth minerals and expressed support for the “AUKUS” nuclear submarine deal. The agreement comes as the US seeks to reduce dependence on China.
Albanese, Trump sign critical minerals deal, with both leaders holding up a document to show so
Donald Trump is hosting Australia’s Anthony Albanese at the White House
US President Donald Trump and Australian Prime Minister Anthony Albanese Monday signed an agreement on Australia’s rare earth minerals.
The agreement comes as China puts new restrictions on rare earth exports, prompting Trump to impose an additional 100% tariff on imports from China from next month.
“In about a year from now, we’ll have so much critical mineral and rare earths that you won’t know what to do with them,” Trump told reporters at the White House.
Trump was hosting Albanese this morning at the White House and the leaders signed the document before the media.
Albanese described the deal as an $8.5 billion pipeline “that we have ready to go.”
US and Australia sign critical minerals pact
Under the critical minerals pact, both the US and Australia will each invest $1
billion over the next six months into mining and processing projects that will be available immediately, the prime minister’s office said.
The projects are divided into three groups — joint investments between the US and Australia; sole projects in Australia; and joint projects between the US, Australia and Japan.Under the critical minerals pact, both the US and Australia will each invest $1
billion over the next six months into mining and processing projects that will be available immediately, the prime minister’s office said.
The projects are divided into three groups — joint investments between the US and Australia; sole projects in Australia; and joint projects between the US, Australia and Japan.
