US, Australia sign deal to boost rare earth, mineral supplies amid China export controls

The US and Australia have signed a deal to increase supplies of rare earths and other critical minerals, as China tightens its control over global supplies. US President Donald Trump and Australian Prime Minister Anthony Albanese signed the agreement at the White House on Monday. The deal will support projects that are worth up to 8.5 billion dollars. China currently controls about 70 percent of global rare earth extraction which American companies rely heavily on. Peter Hartcher is the Political and International Editor of the Sydney Morning Herald. He says rare earth minerals are now an essential part of today's economy. Subscribe to our channel: http://bit.ly/AJSubscribe Follow us on X: https://twitter.com/AJEnglish Find us on Facebook: https://www.facebook.com/aljazeera Check our website: http://www.aljazeera.com/ Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/ Download AJE Mobile App: https://aje.io/AJEMobile #US #UnitedStates #DonaldTrump #Australia #AnthonyAlbanese #RareEarths #CriticalMinerals #USAustraliaTies #China #XiJinping #AlJazeeraEnglish