(MENAFN) The United States and Japan formalized a cooperation agreement on the production and supply of critical and rare-earth minerals on Tuesday, following China’s recent move to tighten export controls on these materials and chip-making equipment in response to US tariffs.

The deal was finalized during US President Donald Trump’s visit to Tokyo, where he met Japan’s new Prime Minister, Sanae Takaichi, marking their first official encounter.

According to the White House, the nations agreed to expand joint initiatives “necessary to support domestic industries, including advanced technologies and their respective industrial bases,” and to employ “economic policy tools and coordinated investment to accelerate the development of diversified, liquid, and fair markets for critical minerals and rare earths.”

The leaders also signed a document directing their governments to “take further steps for a new golden age of the ever-growing US-Japan alliance.”

Trump praised Japan as an “ally at the strongest level,” and called Takaichi, who assumed office last week, “one of the greatest prime ministers.” Takaichi reciprocated, pledging to deepen bilateral ties, which she described as “the greatest alliance in the world.”

Trump has consistently emphasized securing access to rare-earth minerals globally, viewing them as both lucrative economic assets and strategic tools. Earlier this year, the US signed a minerals agreement with Ukraine, framed by American officials as a security guarantee for Kiev, and Trump finalized an investment pact with Australia this month to counter China’s dominance in critical minerals and rare-earth markets.

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