In a significant geopolitical maneuver, President Donald Trump and Australian Prime Minister Anthony Albanese have inked an USD 8.5 billion critical-minerals agreement. The deal aims to leverage Australia's rich rare-earth resources at a time when China is imposing stricter export controls, which are seen as a threat to global tech supply chains.

The accord highlights the United States' strategy to strengthen alliances to counter China's influence over key materials vital for technology industries. Kevin Hassett, director of the White House's National Economic Council, emphasized Australia's potential in helping de-risk the global economy from China's rare earth 'extortion'.

With Beijing requiring foreign companies to obtain government approval for the export of certain rare-earth magnet

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