Trump strikes deals on trade, critical minerals in Southeast Asia

The United States signed multiple trade and critical minerals deals with four Southeast Asian countries—Malaysia, Cambodia, Thailand, and Vietnam—during President Trump’s visit to Kuala Lumpur for the ASEAN summit.

The agreements aim to address trade imbalances and diversify supply chains, particularly amid China’s tightening controls on rare earth exports.

Malaysia agreed not to ban or limit exports of critical minerals or rare earths to the U.S., supporting efforts to secure alternatives to Chinese supplies used in semiconductors, electric vehicles, and military equipment, Reuters has reported.

Vietnam pledged to increase purchases of U.S. products to reduce its $123 billion trade surplus, while framework deals with Thailand and Cambodia will gradually reduce tariffs on selected goods.