Japan’s new prime minister, Sanae Takaichi, and U.S. President Donald Trump signed a recent framework deal in Tokyo to secure the supply of rare earths and critical minerals.
Japan’s Prime Minister Sanae Takaichi and U.S. President Donald Trump, who is on the second leg of a week-long tour of Asia, has signed an agreement to secure mining and processing of rare earths.
This agreement aims to counter China’s tightening export controls on the materials, which are vital for a wide range of products.
The White House said in a statement, “The countries plan to cooperate through use of economic policy and coordinated investment to accelerate development of diversified, liquid and fair markets for critical minerals and rare earths.”
Following the agreement, the prime motive of this deal is to assist both countries in building security of critical minerals.
Takaichi said, “I would like to realize a new golden age of the Japan-US alliance, where both Japan and the United States will become stronger and also more prosperous.”
Following the successful meeting, both leaders congratulated each other on the historic agreement.
Trump plans to visit troops today aboard the USS George Washington in Yokosuko, and will complete the visit with a dinner and reception with business leaders back in the Japanese capital.
While the president continues to leave the door open to seeking a third term, even though it was prohibited by the Constitution, many legal experts believe the idea is unrealistic.
In this connection, when asked on Monday if he would attempt to run for a third time, Trump replied, “I haven't really thought about it. We have some very good people as you know, but I have the best poll numbers I’ve ever had.”
Takaichi has described the US-Japan security as the “greatest alliance in the world” and hoped that Japan would contribute to world peace and stability.
Trump visited the Imperial palace shortly after arriving in Japan. He welcomed Japanese orders for US-made military hardware and predicted that these two economies would do “a lot of trade.”
Additionally, he congratulated Takaichi on becoming the first woman to be made Japanese prime minister, calling it a “big deal”.
He said that it was an honor to meet her soon after the launch of her administration and she would go on to become one of the country’s “greatest prime ministers.”