U.S. President Donald Trump and Australian Prime Minister Anthony Albanese signed an USD 8.5 billion critical-minerals deal at the White House on Monday, aiming to secure access to Australia’s rich rare-earth resources as China tightens export rules. The two countries also pledged to invest at least USD 1 billion each over the next six months in mining and processing projects and to set a price floor for critical minerals. Trump said the agreement had been negotiated “over several months”. Albanese said the deal takes U.S.-Australia ties “to the next level.” The move comes after Beijing announced new restrictions requiring foreign firms to obtain government approval to export magnets containing rare-earth materials that originated in or were made with Chinese technology. Washington argues the rules give China excessive control over global supply chains critical to high-tech industries.