Trump signs $8.5 billion rare earths deal with Australian prime minister

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President Donald Trump and Australian Prime Minister Anthony Albanese signed an $8.5 billion rare earths deal, creating a pipeline for the critical resources as a potential counterpoint to China’s new export restrictions. Beijing said it will require Chinese government approval for any exports of magnets that contain even trace amounts of rare earth materials that originated from China, or that were produced with Chinese technology. The U.S. Trade Representative said this gives China broad power over the global economy by controlling the tech supply chain, making Australia’s mining economy a key alternative for critical minerals sought by the U.S. Read more at: https://www.9news.com/article/syndication/associatedpress/the-latest-trump-to-meet-with-australian-leader-at-white-house/616-c4d8ef54-fdce-4eda-9f83-9e72f350d026 More local videos here: https://youtube.com/@9news Subscribe to NEXT: https://youtube.com/@Nexton9NEWS Stay connected: 9NEWS Website: https://www.9news.com/ Facebook: https://www.facebook.com/ilike9news X: https://twitter.com/9NEWS Instagram: https://www.instagram.com/9newsdenver/ Download the 9NEWS App: https://www.9news.com/appredirect/ Sign up for the 9NEWSLETTER: https://www.9news.com/email 9NEWS (KUSA) is located in Denver, Colorado.