Trump hosts Australian Prime Minister Anthony Albanese and signs rare minerals deal
The president also assured that the plan to manufacture nuclear-powered submarines for sale to the allied country is "really moving along very rapidly, very well."
Donald Trump and Anthony Albanese at the White House
Donald Trump met Monday with Australian Prime Minister Anthony Albanese at the White House. The leaders signed a rare minerals agreement that includes funding of up to $8.5 billion for various projects.
"Today’s agreement on critical minerals and rare earths is just taking it [the bilateral relationship] to the next level," Albanese maintained before signing the pact they had been negotiating for at least four months.
Although neither government immediately released details of the agreement, the prime minister maintained that it included a $1 billion contribution from Australia and the United States over the next six months.
"Critical mineral independence is essential to our national security, and thanks to President Trump, America is finally prioritizing the resources essential to our defense, technology, and energy sectors!" Interior Secretary Doug Burgum commented.
The agreement comes after China announced new export controls on rare minerals. Washington, for its part, is exploring alternative avenues for obtaining rare earths.
Meanwhile, both governments are negotiating a meeting between Trump and his Chinese counterpart, Xi Jinping. If they do not reach a new agreement, the Republican threatened to raise tariffs.
Submarines for Australia
Trump also told Albanese that some submarines the Biden administration agreed to build for Australia were "really moving along very rapidly, very well."
The manufacture is part of a three-way military deal, with the United Kingdom. Called Aukus, it includes two pillars: the delivery of three nuclear-powered U.S. submarines to Australia, with the possibility of buying two more; and the manufacture of new models of the same vehicle.
The aim of the pact is to strengthen security in the Indo-Pacific region, in the face of protests from China.
Trump also said that while he would "always like more" Defense investment from allies, but that he was pleased with Australian efforts, "They’ve been great."
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