Japanese Prime Minister Sanae Takaichi and US President Donald Trump are finalising a landmark joint document aimed at strengthening cooperation on rare earths and other critical minerals, according to a report by the Asahi Shimbun on Tuesday.
The agreement, expected to be signed during their meeting later in the day, is designed to bolster supply chains and address growing economic security concerns following China’s recent decision to tighten export controls on rare earth elements. These materials are vital components in products ranging from smartphones and electric vehicles to fighter jets.
Tokyo and Washington’s move underscores their shared resolve to reduce dependency on China, which currently dominates global production of rare earths.
Initially, the White House had planned to impose a 100% additional tariff on Chinese exports in response to Beijing’s restrictions. However, both sides have since agreed on a framework for a potential trade deal, announced on Sunday, that could pause the planned US tariffs and China’s new export controls on critical minerals.
The development comes ahead of a scheduled meeting between Trump and Chinese President Xi Jinping on Thursday in South Korea, where the two leaders are expected to finalise the terms of the trade arrangement on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit.
If successfully concluded, the Japan-U.S. pact and the broader US-China framework could mark a significant step towards stabilising global supply chains for strategic materials that underpin much of the world’s high-tech and defence industries.
Melissa Enoch
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