America Signs Agreement with Japan to Secure Rare Mineral Supplies

SadaNews - U.S. President Donald Trump and Japanese Prime Minister Sanae Taketatsu signed a framework agreement on Tuesday aimed at securing supplies of strategic minerals through mining and processing, according to a statement from the White House.

The signing took place during Trump’s visit to Japan, which is part of his broader tour in Asia, where both countries are looking to strengthen supply chains for strategic minerals used in various sectors ranging from renewable energy to electronics and automotive.

China processes more than 90 percent of the world’s strategic minerals and has recently expanded export restrictions, including new items on the list of controls for foreign producers reliant on Chinese materials.

In contrast, the United States has only one operational mine for strategic minerals and is racing to secure vital minerals for electric vehicles, defense systems, and advanced manufacturing.

Trump is scheduled to meet with his Chinese counterpart Xi Jinping on Thursday.

The White House statement noted that both countries will consider mutual complementary storage arrangements and will collaborate with other international partners to ensure supply chain security.