U.S, Japan Sign Deal to Boost Rare Earths Supply Chains
The United States (U.S) and Japan have agreed to deepen cooperation on the supply of critical minerals and rare earths. The agreement was signed on Tuesday in Tokyo by U.S. President Donald Trump and Japanese Prime Minister Sanae Takaichi.
The aim is to secure the supply of critical minerals and rare earths necessary to support domestic industries, including advanced technologies and their respective industrial bases. The move comes against the backdrop of China’s near-monopoly on rare earths.
Beijing has imposed export controls on rare earths and the magnets made from them – which are essential for industry, as well as the high-tech and defence sectors, amid ongoing trade tensions with Washington.
Trump is using his trip through several Asian countries to secure a series of agreements on rare earths. By expanding cooperation, Washington hopes to reduce its dependence on China. For Japan, a high-tech nation, rare earths are also vital.
The metals are key components in products such as smartphones, wind turbines, electric vehicles and defence equipment.
Trump is also expected to meet Chinese President Xi Jinping in South Korea on Thursday on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit to discuss trade issues.
APEC brings together 21 economies across the Pacific, including the U.S., China, Japan, Russia and South Korea, with the goal of promoting economic growth by lowering trade barriers.
Meanwhile, the 47th Association of Southeast Asian Nations (ASEAN) Summit and related summits concluded in Malaysia on Tuesday. Speaking at the closing ceremony, Prime Minister Anwar Ibrahim of Malaysia, the chair of ASEAN 2025, emphasised on ASEAN centrality.
He said “we revived dialogues, built new bridges, and proved that ASEAN’s machinery, when guided by patience and reason, still works.” “Centrality, while not soaring above the skies, is still alive and well. Things are not falling apart, and the centre still holds,” he said.
At the ceremony, Malaysia handed over the ASEAN chairmanship for 2026 to the Philippines. The ASEAN Summit is generally held twice a year, once in the first half and another in the second half of the year.
Established in 1967, ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, Vietnam and Timor-Leste DMO Cuts Rates on Nigerian Bonds, Turns Down Excess Demand
