The framework provides an alternate source to the restricted rare earth exports by China.
President Donald Trump and Prime Minister Anthony Albanese signed a deal that involves $8.5 billion in critical mineral and rare earth element projects this month. The restrictions China has placed on exports of the critical minerals give Australia, the fourth largest reserves of these elements, an opportunity to fill the void.
President Trump said that the deal was “negotiated over a period of four or five months.”
The U.S. and Australia are set to jointly invest $1 billion in the projects over the coming six months. President Trump also confirmed that the U.S. will be supplying Australia with submarines under the AUKUS deal, as that nation invests in U.S. shipyard expansion.
As the Lord Leads, Pray with Us…
- For President Trump as he continues to negotiate trade deals with foreign partners.
- For U.S. trade and commerce officials as they seek to improve the nation’s economy.
Sources: UPI News, MSN, Washington Post
