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\n U.S. President Donald Trump and Australia’s Prime Minister Anthony Albanese sign an agreement on rare earth and critical minerals during a meeting in the Cabinet Room at the White House, in Washington, D.C., U.S., on October 20, 2025.
\n | Photo Credit: Reuters\n <\/p>\n
President Donald Trump and Australian Prime Minister Anthony Albanese signed a critical-minerals deal at the White House on Monday (October 20, 2025) as the U.S. eyes the continent’s rich rare-earth resources when China is imposing tougher rules on exporting its own critical minerals abroad.<\/p>\n
The two leaders described the agreement as a $8.5 billion deal between the allies. Trump said it had been negotiated over several months.<\/p>\n
\u201cIn 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,” said Mr. Trump, a Republican, boasting about the deal. “They’ll be worth $2.\u201d Mr. Albanese added that the agreement takes the U.S.-Australia relationship \u201cto the next level.\u201d This month, Beijing announced that it will require foreign companies to get approval from the Chinese government to export magnets containing even trace amounts of rare-earth materials that originated from China or were produced with Chinese technology. The Trump administration says this gives China broad power over the global economy by controlling the tech supply chain.<\/p>\n
\u201cAustralia is really, really going to be helpful in the effort to take the global economy and make it less risky, less exposed to the kind of rare earth extortion that we’re seeing from the Chinese,\u201d Kevin Hassett, the director of the White House’s National Economic Council, told reporters on Monday morning ahead of Mr. Trump’s meeting with Mr. Albanese.<\/p>\n
Mr. Hassett noted that Australia has one of the best mining economies in the world, while praising its refiners and its abundance of rare earth resources. Among the Australian officials accompanying Mr. Albanese are Ministers overseeing resources and industry and science, and Australia has dozens of critical minerals sought by the U.S.<\/p>\n
The agreement underscores how the U.S. is using its global allies to counter China, especially as it weaponises its traditional dominance in rare earth materials that are used in everything from jet engines and electric vehicles to laptops and phones. Top Trump officials have used the tactics from Beijing as a rallying cry for the US and its allies to work together to try to minimise China’s influence.<\/p>\n
\u201cChina is a command-and-control economy, and we and our allies will neither be commanded nor controlled,\u201d Treasury Secretary Scott Bessent said last week. \u201cThey are a state economy and we are not going to let a group of bureaucrats in Beijing try to manage the global supply chains.\u201d \tMr. Albanese’s visit comes just before Trump is planning to meet with Chinese President Xi Jinping in South Korea later this month.<\/p>\n
Another topic of discussion was AUKUS, a security pact with Australia, the U.S. and the United Kingdom that was signed during U.S. President Joe Biden’s Democratic administration.<\/p>\n
Mr. Trump noted Monday that AUKUS was established \u201ca while ago\u201d but that the agreement now is \u201cmoving along very rapidly, very well.\u201d Albanese said that \u201cour defense and security partnership with AUKUS is so important for us.\u201d \tJohn Phelan, the Navy secretary, said that the U.S. wants to take the original AUKUS framework and improve it for the three signatory countries while clarifying \u201csome of the ambiguity\u201d in it.<\/p>\n
\u201cSo it should be a win-win for everybody,\u201d Mr. Phelan said.<\/p>\n
The center-left Mr. Albanese was reelected in May and suggested shortly after his win that his party increased its majority by not modeling itself on Trumpism.<\/p>\n
\u201cAustralians have chosen to face global challenges the Australian way, looking after each other while building for the future,\u201d Mr. Albanese told supporters during his victory speech. <\/p>\n
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