Overview
- The leaders signed a critical minerals and rare earths agreement, with a White House fact sheet saying the two governments intend to invest more than $3 billion in projects over the next six months targeting deposits valued at $53 billion.
- Albanese described an $8.5 billion project pipeline, with reporting also noting commitments of at least $1 billion each, and initial funding flagged for a gallium recovery plant in Western Australia and the Arafura Nolans rare earths project in the Northern Territory.
- The pact was framed as building allied supply chains to reduce reliance on China’s processing dominance and to support high‑tech and defense manufacturing.
- Trump publicly endorsed AUKUS and said Australia is “getting” the submarines, even as the Pentagon review and U.S. shipyard capacity shortfalls leave delivery specifics unresolved.
- An on‑camera flashpoint saw Trump tell Ambassador Kevin Rudd “I don’t like you either,” with Australian officials later saying Rudd apologized and the president replied that “all is forgiven,” while tariff relief for Australia was not announced.