President donald trump and australian prime minister anthony albanese have signed a deal for $8.5 billion in rare earth minerals, as a counterpoint to china’s new export restrictions. Both deals are intended to counter china’s influence President donald trump and australian prime minister anthony albanese announced an $8.5 billion rare earths agreement to reduce dependence on china's mineral supply dominance.
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The new framework comes as china has sought stricter export controls on critical minerals and rare earth materials, prompting a threat from president trump of greater tariffs on chinese goods.