On October 28, US President Donald Trump and Japanese Prime Minister Sanae Takaichi signed a framework agreement to secure supplies of rare earth minerals, ahead of the US leader's meeting with Chinese President Xi Jinping on October 30.
The leaders signed documents, including an agreement on key minerals, at Akasaka Palace in Tokyo. Neither side publicly mentioned China, which handles more than 90% of the world 's rare earth minerals and has recently expanded restrictions on their export.
Under the agreement, the United States and Japan will use economic policy tools and coordinated investment to accelerate the development of diversified, liquid, and equitable markets for critical minerals and rare earth elements. The White House stated that the two sides will also consider mutual reserve agreements and cooperate with other international partners to ensure supply chain security.
The agreement was signed ahead of an upcoming meeting between Donald Trump and Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea. This meeting is expected to focus on pausing higher US tariffs as well as China's rare earth export controls.
According to sources familiar with the negotiations, Japan has committed to investing $550 billion in the U.S. economy as part of a broader bilateral trade agreement. This investment could also include areas such as power generation and liquefied natural gas (LNG).
Prior to his trip to Asia, Trump urged Russia's energy customers, including Japan, to stop importing from the country. In recent years, Japan has increased its purchases of US LNG to diversify its supply sources and prepare for the expiration of its contracts with Russia's Sakhalin-2 project, which currently meets 9% of its gas needs.
Source: https://vtv.vn/my-nhat-ban-ky-thoa-thuan-dat-hiem-100251028160741158.htm
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