On October 20, 2025, US President Trump and Australian Prime Minister Anthony Albanese held a meeting at the White House to push for increased US investment in Australia’s critical mineral sector. The meeting aimed to address concerns over China’s weaponization of key minerals such as rare earths.
Amid China’s export weaponization of critical minerals, the two leaders signed a crucial minerals agreement to strengthen cooperation in this area.
President Trump greeted Prime Minister Albanese outside the White House, where a reporter asked what message the President wanted to convey to the Australian people. Trump responded, “I love them.”
Subsequently, the two leaders proceeded into the White House to begin their discussions.
Trump stated at the outset that he and Prime Minister Albanese would discuss various issues, including critical minerals and rare earths. He mentioned that the US and Australia would sign an agreement on critical minerals and rare earths, a key goal for the US to reduce dependence on China.
While Trump did not disclose the specifics of the agreement, he emphasized that within a year, the US would have so many critical minerals and rare earths that “you won’t know what to do with them.”
Trump expressed broader praise for the US-Australia relationship, describing it as “better than ever.” Shortly after, he signed the agreement.
Prime Minister Albanese elaborated on the rare earths agreement, outlining that the US and Australia would invest $1 billion in projects to be operational within the next six months.
These projects would fall into three categories: joint investments between the US and Australia, standalone projects in Australia, and joint projects involving the US, Australia, and Japan.
Albanese noted that this aligns with Australia’s long-term plans and ties into Trump’s ‘America First’ agenda.
When asked whether the trilateral AUKUS agreement between the US, UK, and Australia aimed to deter China, Trump affirmed, “Yes.”
Under the AUKUS agreement, Australia will gain conventional-armed nuclear-powered submarines. The agreement, signed during the Biden administration, seeks to counter China’s growing influence in the Indo-Pacific region. China has expressed opposition to the AUKUS agreement, labeling it as dangerous and warning of potential regional arms race.
Trump stated on Monday that the US is rapidly constructing more submarines for Australia under AUKUS.
Albanese invited Trump to visit Australia and suggested coordinating a time for a golf tournament. Trump expressed his previous visit to Australia and his desire to visit again.
Kevin Hassett, Director of the White House National Economic Council, stated on Monday morning that Australia would help reduce global economic risks and combat China’s rare earth extortion. He added that Australia is one of the “world’s best mining economies.”
“The shrewdest and most capable refining businesses are in Australia,” he said. “They possess vast reserves of rare earths.”
Prior to the Trump-Albanese meeting, Hassett met with Australian Treasurer Jim Chalmers in Washington on October 16. Chalmers expressed Australia’s favorable position to meet global rare earth demands.
“We will work with partners to ensure we can be a very reliable supplier meeting the critical minerals needs of the US and other global markets,” Chalmers said.
Australia holds the fourth-largest rare earth deposits globally and has a rich history of rare earth mining, making it a potential alternative supplier to China. Australia is also home to the only rare earth producer outside of China.