Trump, Australia’s Albanese sign critical minerals agreement to counter China
Summary
US President Donald Trump and Australian Prime Minister Anthony Albanese signed a $8.5 billion critical minerals agreement aimed at countering China's influence, alongside support for the AUKUS nuclear submarine deal in the Indo-Pacific region.
Key Points
- US President Donald Trump and Australian Prime Minister Anthony Albanese signed a critical minerals agreement investing $1 billion each to boost mining and processing projects.
- The agreement targets deposits worth $53 billion in critical minerals essential for defense, aerospace, and next-generation industrial technologies.
- Trump and Albanese expressed support for the AUKUS nuclear-powered submarine deal to strengthen Indo-Pacific security.
- US Export-Import Bank announced over $2.2 billion in investments to advance critical minerals projects in Australia, countering China's supply dominance.
