US, Australia hold talks at White House, sign rare earths agreement

WASHINGTON, Oct 20 (KUNA) - US President Donald Trump held talks Monday with Australian Prime Minister Anthony Albanese at the White House, focusing on trade, defense cooperation, and the trilateral AUKUS security partnership.
The two leaders signed a rare earth elements agreement, opening access to Australia's vast mineral resources.
The deal, which had been under negotiation for several months, is backed by an AUD 8.5 billion (approx. USD 5.5 billion) investment pipeline from Australia.
Discussions also touched on the AUKUS agreement between the US, Australia, and the UK, which includes the transfer of up to five Virginia-class nuclear-powered submarines to Australia by 2032.
President Trump expressed support for expediting the timeline, noting the process is "moving very quickly." While supporting defense cooperation, Trump downplayed the need for AUKUS as a deterrent against China, citing strong US military capabilities and his personal relationship with Chinese President Xi Jinping, whom he is expected to meet later this month in South Korea.
On trade, Trump described tariffs on Australian goods as already among the lowest, without indicating any changes.
This marks Prime Minister Albanese's first formal meeting with President Trump since he returned to office in January.
The AUKUS agreement, signed in 2021 by previous leaders, is currently under review by the Pentagon to assess alignment with the administration's "America First" approach. (end) rsr.dm