US President Donald Trump has strongly endorsed the Aukus pact and praised Australian Prime Minister Anthony Albanese as a 'great' leader during a White House meeting. The two leaders signed a multibillion-dollar critical minerals agreement, but Trump downplayed prospects of tariff relief for Australian goods.
In a 35-minute press conference, Trump assured the future of the Aukus nuclear submarine deal, stating: 'We have the best submarines in the world, and we're building a few more... we have them moving very quickly.' However, Navy Secretary John Phelan noted the US may seek to 'clarify some ambiguities' in the agreement.
The critical minerals deal, worth $8.5bn, aims to boost investment in rare earths projects in both countries. Albanese called it 'a really significant day' for the Australia-US relationship. The agreement includes coordinated investment, price mechanisms, and national security safeguards on asset sales.
During the meeting, Trump told Australian ambassador Kevin Rudd 'I don't like you' over Rudd's past critical comments, but added that the US has 'no better friend than Australia'. Albanese suggested Trump visit Australia for the 2028 President's Cup golf tournament in Melbourne.
The first projects under the deal include the Alcoa-Sojitz gallium project in Western Australia and the Arafura Nolans rare earths project in the Northern Territory, which will receive $100m in Australian government equity investment.
