US and Australia sign rare earths deal to counter China’s dominance

Anthony Albanese and Donald Trump today revealed an 8 and a half billion dollar pact for critical metals that are the quicksilver of modern life, needed to power iPhones, electric cars, and fighter jets. For Washington, the deal was about securing supply and striking a blow against Beijing’s stranglehold over rare earths. For Anthony Albanese, it was a moment to elevate Australia from resource supplier to strategic heavyweight in a contest that is as much about influence as it is about industry.

USSC Director of Economic Security spoke with ABC’s The Radio National Hour on this development.