US President Donald Trump and Japan’s new Prime Minister, Sanae Takaichi, have signed an agreement to ensure the supply of rare-earth metals and essential minerals.

The agreement was reached amid China’s introduction of export controls on technologies for the extraction and processing of rare-earth metals, a sector in which China controls 70% of the global market.

During negotiations with Takaichi, Trump also announced that Japan has placed a major order for American weapons. The White House emphasized the importance of the trade agreement between the two countries, describing it as fair and mutually beneficial.

The American leader is currently on a three-day working visit to Japan. The previous day, Trump met with Emperor Naruhito of Japan.