Overview
- Washington and Tokyo will jointly identify projects to shore up supply chains for critical minerals and rare earths, including downstream products such as permanent magnets, batteries, catalysts and optical materials.
- The framework sets a roughly six‑month window to select and support projects with coordinated public and private financing, according to the White House and partner statements.
- The agreement expands energy collaboration to advanced nuclear technology, including next‑generation reactors and small modular reactors, with cooperation outlined in the joint declaration.
- The moves come after Beijing tightened rare‑earth export restrictions and as President Trump has threatened 100% tariffs on Chinese goods, with a Trump–Xi meeting expected this week at APEC in South Korea.
- Japan’s Prime Minister Sanae Takaichi signaled deeper security alignment by planning to lift defense spending to 2% of GDP, and both leaders reaffirmed a July trade package featuring 15% reciprocal tariffs and a $550 billion Japanese investment pledge.