Overview
- Washington and Tokyo signed an agreement in Tokyo to secure supplies of critical minerals and rare earths, with joint project selection and mobilized public–private financing.
- The framework targets gaps across downstream products such as permanent magnets, batteries, catalysts and optical materials, according to a White House statement.
- The move follows Beijing’s new restrictions on rare‑earth exports, after which President Trump threatened 100% tariffs on Chinese goods.
- Japan reaffirmed plans to lift defense spending to 2% of GDP ahead of schedule and to expand purchases of U.S. military equipment as part of deeper security cooperation.
- Trump heads to Busan for a face‑to‑face with China’s Xi Jinping, expressing optimism after preliminary trade talks in Kuala Lumpur and with issues like tariffs, TikTok and fentanyl on the agenda.