President Donald Trump visited Tokyo on Tuesday and signed a rare earths deal with Japan to secure vital mineral supplies. The agreement aims to strengthen supply chains as China tightens its rare earth regulations.
The White House confirmed that both countries will collaborate on energy, artificial intelligence, and shipbuilding. Although details remain limited, several Japanese investment projects are under discussion.
The goal is “to assist both countries in achieving resilience and security of critical minerals and rare earths supply chains.”
The agreement includes plans to “jointly identify projects of interest to address gaps in supply chains for critical minerals and rare earths, including derivative products such as permanent magnets, batteries, catalysts, and optical materials.”
The statement also noted that both governments “intend to mobilize government and private sector support.”
In response to China’s recent restrictions, Trump threatened to impose 100% tariffs on Chinese goods. Earlier in his Asia tour, he signed a trade deal with Malaysian Prime Minister Anwar Ibrahim to expand US access to vital minerals.
During the Tokyo visit, US Secretary of Commerce Howard Lutnick and Japan’s Transport Minister Yasushi Kaneko signed a memorandum of cooperation on shipbuilding. The agreement outlines the formation of a joint working group to modernize shipyards, share best practices, and boost shipbuilding capabilities.
“We used to be number one at making ships, and then we lost our way,” Trump said Tuesday.
“We’re going to be working also with Japan on making ships. We’re going to make a lot of ships again.”
The US is requesting $550 billion in Japanese investments following a July trade deal that lowered tariffs on Japan. Both sides are considering multiple investment projects involving US companies.
