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China responds to critical US-Australia partnership deal

The agreement between the US and Australia to cooperate in the development of rare earth goods and critical minerals trade disputes with Chinathe world’s leading supplier, revealed the response from the Chinese government.

The US-Australia agreement was signed by the President Donald Trump And Australian prime minister Anthony Albani on Monday at the White House after China announced unusual global export controls this month.

“Global chains and industrial supply chains are starting to form due to market and business choices,” Chinese embassy spokesman Liu Pengyu told Fox Business in a statement.

“Countries with mineral resources need to play a positive role in maintaining proper industrial and supply chains and ensure normal trade and economic cooperation,” he added.

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President Trump and Prime Minister Albelanese signed an international cooperation agreement that was rejected on Monday. (Yuri Gras / Abaca / Bloomberg via Getty Images)

Strange worlds they are used in a variety of applications and are a critical component in consumer-based devices such as smartphones and electric vehicle batteries, and are used in military equipment such as radars and cruise missiles.

China is the world’s leading producer of rare earth and has the largest reserves, according to the report US Geological Survey (USGS).

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China's XI and President Donald Trump shake hands

The exotic world has become a prominent issue in the ongoing trade dispute between the US and China. (Brendan smilowski/AFP/Getty Images)

The USG found that by 2024, China’s mines produced 270,000 tons of rare earths and the country has 44 million tons.

By comparison, the US produced 45,000 tons of rare earths and has 1.9 million tons in reserves, while Australia produced 13,000 tons and required 5.7 million tons.

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Mining Area

China is the world’s leading source of rare earths and precious minerals. (Bert van Dijk/Getty Images)

According to the document explaining the agreement issued by The White Housethe US and Australia each committed to investing $ 1 billion in the next six months in mining and processing groups, as well as putting down the low price of critical minerals.

The two countries have also agreed to limit concessions for mining, processing facilities and activities related to the production of rare earth and precious minerals.

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The agreement also calls for cooperation between the US and Australia on natural resources mapping, mineral reproduction and efforts to stop the sale of sensitive goods. National Security reasons.

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