President Donald Trump calls on reporters during a meeting with Prime Minister of Australia Anthony Albanese (L), Secretary of War Pete Hegseth and White House Chief of Staff Susie Wiles during a bilateral meeting in the Cabinet Room of the White House in Washington D.C. on Oct. 20, 2025. Anna Moneymaker/Getty Images
News Analysis
The announcement by President Donald Trump and Prime Minister Anthony Albanese that the United States and Australia would embark on a number of joint investments totalling more than $4.6 billion (US$3 billion) is aimed at breaking Beijing’s strangehold on the world’s production of rare earth elements.
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