Japan is vowing as part of a far-ranging agreement with the Trump White House to identify and invest in a slew of new projects to mine and refine rare earths, critical minerals and other metals that China largely controls.
The U.S.-Japan agreement that President Donald Trump and Japanese Prime Minister Sanae Takaichi signed Tuesday during his weeklong tour of Asia arrives just days before he’s slated to meet with Chinese President Xi Jinping in South Korea on Thursday. Those talks are expected to focus on discussion of China’s continued control of rare earths needed for electric vehicles, electronics and military equipment like fighter jets.
Japan and the U.S. are planning to leverage private capital and tap into a host of financial tools to bolster the development of rare earth and critical mineral projects, as well as related products like magnets, batteries and catalysts. That could include grants, offtake agreements and the governments taking equity stakes in companies.
The two countries also plan to launch a rapid response team under the leadership of Energy Secretary Chris Wright and Japan’s Minister for Economy, Trade and Industry Ryosei Akazawa to develop a plan for accelerating the production of processed minerals.
