President Trump on Monday signed an agreement with Australia to expand cooperation on rare earth materials and critical minerals. The signing took place at the White House with Australian Prime Minister Anthony Albanese.
The full agreement has not been released, but had been negotiated over a period of four or five months, according to President Trump. Albanese confirmed it includes a $1 billion contribution from both countries over the next six months. The deal covers joint U.S.-Australia projects on rare earths, U.S. investments in Australian critical minerals processing, and future collaborations involving allies such as Japan.
The move comes as the Trump administration announces plans to take a more active role in securing rare earth supplies following new Chinese export restrictions.
