US President Donald Trump has hailed his friendship with Prime Minister Anthony Albanese during successful talks at the White House, despite an awkward moment involving Ambassador Kevin Rudd.

The two leaders signed an agreement on rare earth and critical minerals during a bilateral lunch in the White House cabinet room.

“This is an $US8.5 billion pipeline that we have ready to go,” Mr Albanese said while signing the deal as Mr Trump noted it had been negotiated over a period of four or five months.

The agreement involves the processing of minerals, and includes joint investments between the US and Australia, projects in Australia and other joint projects involving Japan.

Australia and the US States will invest about $US3 billion ($A4.6 billion) in critical mineral projects within six m

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