‘Moving along very rapidly’: Trump, Albanese sign rare earths deal; Australia to get US submarines

US President Donald Trump and Australian Prime Minister Anthony Albanese, who was visiting the White House, signed a rare earths and critical minerals agreement on Monday (Oct 20). The deal is aimed to ensure a steady supply of the materials as China tries to tighten its control over global supply. Trump also told Albanese that his country would get submarines under a 2021 pact that the US president previously cast doubt on.

The meeting comes after Trump threatened China with 100 per cent tariffs earlier this month, citing Beijing’s latest rare earths export curbs.

“The submarines that we’re starting to build for Australia are really moving along,” Trump told reporters alongside Albanese at the White House. He added, “We’ve worked on this long and hard, and we’re starting that process right now. And it's really moving along very rapidly, very well.”

According to Canberra, the AUKUS submarine deal between Australia, the United Kingdom and the United States could cost Australia up to $235 billion over the next 30 years. However, the Trump administration said earlier this year that it had put AUKUS under review to ensure it aligned with his “America First agenda.”

Trump to visit China

Trump also said that he would travel to China early next year and hopes to seal a trade deal in South Korea with President Xi Jinping later this month, despite recent tariff tensions.

“I’ve been invited to go to China, and I’ll be doing that sometime fairly early next year. We have it sort of set,” Trump told reporters at the White House.