U.S. and Australia sign $8.5 billion critical-minerals deal to counter China

""Today's agreement on critical minerals and rare earths, is just taking" the U.S. and Australia's relationship "to the next level," Albanese added."

""Australia 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," Kevin Hassett, the director of the White House's National Economic Council, told reporters on Monday morning ahead of Trump's meeting with Albanese."

President Donald Trump and Australian Prime Minister Anthony Albanese signed an $8.5 billion agreement on critical minerals and rare earths at the White House. The deal aims to expand U.S.-Australia cooperation on mining, refining, and securing supplies of dozens of critical minerals. Beijing announced new controls requiring approval for exports of magnets containing rare-earth materials, prompting U.S. concern about Chinese influence over global tech supply chains. White House officials emphasized Australia's strong mining sector and refining capacity as key assets. The visit coincides with upcoming diplomatic meetings with China and includes talks on trade, defense, and AUKUS.

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