President Donald Trump and Australian Prime Minister Anthony Albanese signed a critical minerals pact at the White House, where Albanese touted projects worth up to $8.5 billion. He said $1 billion would be contributed over the next six months, but a White House fact sheet put near-term investment at more than $3 billion and flagged seven letters of interest from the Export-Import Bank for more than $2.2 billion in financing, potentially unlocking up to $5 billion. Plans include rare-earths processing and a 100-metric-ton-per-year gallium refinery in Western Australia. Against new Chinese export controls, Trump threatened 100% tariffs and said he will meet Xi Jinping this month.

Prepared by Rachel Morgan and reviewed by editorial team.