President Donald Trump and Japanese Prime Minister Sanae Takaichi signed an agreement on Tuesday that will secure a supply of rare earth minerals, a resource that is vital for the manufacturing of computer chips, AI, and everyday technology.
The agreement states that the US and Japan “intend to support the supply of raw and processed critical minerals and rare earths crucial to the domestic industries of the United States and Japan.” The countries “intend to capitalize on their respective existing mining and processing operations in critical minerals and heavy and light rare earths as well as new capacity.”
The countries intend to invest in mining and processing through government and private sector support, streamlining the permitting processes, and the creation of the US-Japan Critical Minerals Supply Security Rapid Response Group, among other points.