@indopacifc: President Trump and Australian Prime Minister Anthony Albanese signed an agreement Monday to increase cooperation between the two countries on rare earth and critical minerals. The agreement, which had been in the works for some time, was announced shortly after China implemented steep export controls on its own critical minerals. China dominates the global rare earths supply chain, making the U.S. and other nations dependent on its exports of the minerals that are used in a wide range of modern products. Australia, a close U.S. ally, is one of the few other countries in the world that processes rare earths. President Trump said the U.S. is working with other nations to build a supply chain that's not dependent on China. "In about a year from now we'll have so much critical mineral and rare earth that you won't know what to do with them," he told reporters. After Beijing announced the strict export controls earlier this month, the White House threatened to impose 100% tariffs on Chinese goods. The moves risk reigniting the trade war between the world's two largest economies that had largely gone dormant.

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Wednesday 22 October 2025 10:38:12 GMT