Washington — President Trump and Australian Prime Minister Anthony Albanese signed a critical minerals deal at the White House on Monday, as the U.S. eyes the country's rich rare earth resources while China is imposing tougher rules on exporting its own minerals abroad.

Mr. Trump said the deal, which will entail up to $8.5 billion in projects, had been negotiated over several months. Albanese said the deal would take the U.S.-Australia relationship "to the next level."

"In about a year from now we'll have so much critical mineral and rare earth that you won't know what to do with them," Mr. Trump said, seated alongside Albanese. "They'll be worth $2."

Critical minerals include some of the elements necessary for modern technology, including lithium and silicon. They also include rare ea

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