FX.co ★ Trump and Takaichi Ink Rare Earth Supply Chain Pact

During a visit to Japan, U.S. President Donald Trump and Japanese Prime Minister Sanae Takaichi signed a framework agreement on Tuesday, aimed at securing the supply of critical minerals and rare earth elements through mining and processing, the White House announced. This agreement seeks to bolster essential supply chains for industries including renewable energy, electronics, and automotive manufacturing. Washington and Tokyo will utilize economic policy tools and joint investments to develop markets for these resources that are diversified, liquid, and equitable. Given that China is responsible for processing over 90% of the world's rare earth elements and has implemented tighter export controls, the U.S. is endeavoring to diminish its dependency. The agreement also outlines plans to streamline permitting processes, confront unfair trade practices, and consider collaborative stockpiling efforts. President Trump is scheduled to meet with Chinese President Xi Jinping on Thursday to discuss broader trade matters.