Trump signs $8.5 billion rare earths deal with Australia

At the White House, US President Donald Trump and Australian Prime Minister Anthony Albanese signed a critical minerals pact as China tightens rare earth exports and the US readies an additional 100% tariff on Chinese imports next month. The deal commits $1 billion each over six months for mining and processing projects, some joint with Japan, and Albanese touted an $8.5 billion pipeline. Trump predicted a surge in supply. He also backed AUKUS submarine plans for sales by 2032, with Australia slated to spend $239 billion over three decades. The meeting included a tense exchange with Ambassador Kevin Rudd.

Reviewed by JQJO team

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