U.S. President Donald Trump has signed an agreement with Japan to boost the supply and production of rare earth metals. The two countries have agreed to cooperate through the use of policies, trade measures, and coordinated investment to support the production of critical minerals.
Washington has been racing to diversify its supply of critical minerals to reduce its reliance on China. Until now, China has held a near-monopoly in the processing of critical minerals and has recently imposed export controls on them.
The U.S. has been aiming to reduce its dependence on China for the delivery of rare earth metals over the years and, in the recent past, has signed a slew of deals with Malaysia, Thailand, and Australia. These metals are essential for the production of most electronics, electric cars, and military equipment.
Japan is known to have an abundant supply of rare earth metals, but most of it is underwater, making it difficult to mine.
Beyond the signing of the deal, Trump posted a photo standing with Takaichi, along with the families of the Japanese people who were abducted by North Korea. The Japanese government has said that North Korea kidnapped 17 Japanese citizens in the 1970s and 1980s, while there are reports that the actual number may be much higher.
The abductions are widely believed to have been part of North Korea’s espionage program. The victims were taken to train North Korean spies in Japanese language and culture.
