The U.S. and Japan signed an agreement for securing the supply of rare earths, as both countries seek to reduce China’s dominance of some areas of key electronic components.
No direct mention was made publicly by the leaders about China, which processes over 90% of the world’s rare earths, making it the source of each country's concern about its mineral supply chain. Beijing has recently expanded export curbs.
Trump and Chinese President Xi Jinping are set to meet on Thursday on the sidelines of the Asia-Pacific Economic Cooperation in South Korea to discuss a deal that would pause steeper U.S. tariffs and Chinese rare earths export controls, Reuters said.
