Energy Transition Insights: The United States Reaches Critical Minerals-Related Agreements with Japan, Malaysia, Thailand and China

President Trump’s recent trip to Asia culminated in the announcement of agreements with the governments of Japan, Malaysia, Thailand and China related to critical minerals.

• On October 26, 2025, the United States announced memoranda of understanding (“MOUs”) with the governments of Malaysia and Thailand providing for cooperation in diversifying critical minerals supply chains and promoting investments in the development of critical minerals assets. These MOUs represent a non-binding commitment to policy alignment between the United States and each of Malaysia and Thailand, with emphasis on the fortification of critical minerals supply chains, the enhancement of international extraction standards, the promotion of investment in critical minerals projects and technology and the protection of domestic critical minerals markets.[1]
• On October 27, 2025, President Trump and Prime Minister Takaichi of Japan signed the United States-Japan Framework For Securing the Supply of Critical Minerals and Rare Earths through Mining and Processing (the “Japan Framework”), a non-binding common policy framework intended to support supply chains of rare earths and critical minerals.[2] The Japan Framework outlines a commitment by the United States and Japan to develop diversified sources and reduce concentration risk in critical minerals and rare earths supply chains.
• On October 30, 2025, the United States and China announced an agreement (the “U.S.-China Agreement”) to a year-long pause on Chinese rare-earths export controls in exchange for various U.S. trade and tariff-related concessions.[3]

These agreements reflect the United States’ continued focus on the security of critical minerals supply chains in the region and across the world and follow similar arrangements recently entered into by the United States government, including the United States-Australia Framework for Securing of Supply in the Mining and Processing of Critical Minerals and Rare Earths. See our publication dated October 23, 2025 for an overview of the U.S.-Australia Critical Minerals and Rare Earths Framework.

These agreements also follow the previously announced investigation initiated on April 22, 2025, by the Secretary of Commerce under Section 232 of the Trade Expansion Act of 1962, as amended (“Section 232”), to examine the effect on national security of imports of critical minerals and their derivatives. See our publication dated May 1, 2025 for more details on the Section 232 investigation.

The Malaysia MOU outlines an agreement with respect to the following between the United States and Malaysia:[4]

• Information sharing. The countries agree to share information and expertise to increase the competitiveness of Malaysia’s critical minerals extraction industry via formal quarterly meetings or otherwise as needed.
• Prioritization. Both Malaysia and the United States agree to prioritize investment from the United States in critical minerals assets sold in Malaysia or by Malaysian companies.
• Coordination. The countries agree to coordinate to protect their respective domestic markets from non-market policies and unfair trade practices by establishing “fair marketplaces” and price floors (or similar protections).
• Regulation. Regulatory cooperation is expected, with an eye toward a more efficient and equitable treatment of joint projects. Proposed areas of cooperation include streamlined permitting processes, enhanced investor treatment and a stronger review of “critical minerals tools and rare earth asset sales.”

The Thailand MOU outlines an agreement on critical minerals and rare earths that mirrors the Malaysia MOU, with nearly identical provisions related to information sharing, investment prioritization, market protection and regulatory cooperation. However, the Thailand MOU places a greater emphasis on enhanced cooperation among national and sub-national government units and on providing investment access to the United States and Thailand before investors from other countries when a project involves critical mineral assets sold in Thailand or by a Thai company.[5] It also contains an additional focus on cultivating investment that supports domestic value-add and processing industries rather than solely exporting raw materials.

The Japan Framework provides for the following commitments:[6]

• Securing supply. The countries will jointly strengthen and accelerate critical minerals and rare earths supply chains by leveraging existing policy tools, such as the United States’ and Japan’s financial support mechanisms, trade measures and critical minerals stockpiling systems.
• Investment in mining and processing. The countries will utilize both government and private capital to promote the investment of additional capital in critical minerals and rare earths projects, including through:
  • Project selection. Joint identification of projects of interest to address gaps in priority supply chains, including for derivative products such as permanent magnets, batteries, catalysts and optical materials.
  • Financing. Within six months of the date of the Framework, providing financial support to selected projects expected to deliver end-products to buyers in both countries and allied countries.
  • Investment support. Cooperation to develop new or tailored mechanisms to mobilize capital for critical minerals and rare earths supply chains.
  • Ministerial. Convening a bilateral meeting within 180 days of the date of the Framework to promote investment in mining.
• Permitting. Each country will accelerate permitting and project execution for critical minerals and rare earths mining, separation and processing.
• Fair competition and pricing mechanisms. The countries will work to protect their domestic minerals markets from non-market policies and unfair trade practices, including by establishing “fair marketplaces” that reflect the real costs of extraction, processing and trade, as well as other pricing measures. In addition, the countries will coordinate with international partners to develop a complementary global approach.
• Other. Other areas of collaboration contemplated by the Japan Framework include a commitment to investing in minerals recycling technologies, collaboration on mapping mineral resources, establishing a U.S.-Japan Critical Minerals Supply Security Response Group to advise on the identification of priority minerals, assessment of supply vulnerabilities and development of a complementary stockpiling arrangement.

The U.S.-China Agreement suspends the export controls on rare earths and critical minerals that the Chinese government announced on October 9, 2025.[7] China also agreed to issue licenses to export gallium, germanium, antimony and graphite—all of which it restricted in April 2025 and October 2022. In exchange, the United States agreed to a one-year suspension of the Expansion of End-User Controls to Cover Affiliates of Certain Listed Entities interim rule that prohibited certain companies from buying U.S. technology goods.[8]

For more information about the U.S.-China Trade Agreement, see our Tariffs Tracker dated October 31, 2025.