President Trump on Monday signed an agreement with Japan to ramp up cooperation on the processing of critical minerals and rare earth materials, underscoring a major priority of his trip to Asia.
Trump and Japanese Prime Minister Sanae Takaichi signed off on the agreement, which outlines how the two countries are “intensifying their cooperative efforts” to accelerate the processing of critical minerals.
The critical minerals agreement states the two countries will provide financial support for mining projects within six months. Critical minerals are used in electronics and day-to-day products.
The two leaders also signed an agreement that vowed cooperation toward “a new golden age for the U.S.-Japan alliance.”
The critical minerals signing with Japan comes two days after the U.S. signed agreements with Thailand, Cambodia and Malaysia outlining cooperation on the processing and exports of critical minerals.
Access to critical minerals has re-entered the spotlight after China earlier this month said it was tightening controls on exports of the materials. The issue is expected to come up later this week when Trump meets with Chinese President Xi Jinping in South Korea.
Source: The Hill