Anthony Albanese and Donald Trump have locked in a multi-billion dollar critical minerals deal and shored up support for the AUKUS pact.
A long-awaited meeting between Anthony Albanese and Donald Trump has been hailed a great success, as the leaders locked in a multi-billion dollar critical minerals deal and shored up support for the AUKUS pact.
Mr Trump played up his friendship with the prime minister during the meeting at the White House on Tuesday (AEDT), saying the US believed there had "never been anyone better" than Australia.
During the cabinet room meeting the leaders signed a historic agreement on rare earth and critical minerals processing, which is being seen as an attempt by the US to counter China's hold on the market.
"This is an $US8.5 billion ($A13 billion) pipeline that we have ready to go," Mr Albanese said while signing the deal as Mr Trump noted it had been negotiated over several months.
"Australia has a view similar to putting America first," the prime minister added.
"Ours is about not just digging (minerals) up and exporting them. How do we have benefit across the supply chain?
The agreement involves the processing of minerals, and includes joint investments between the US and Australia, projects in Australia and other joint projects involving Japan.
Australia and the US will together invest about $US3 billion ($A4.6 billion) in critical mineral projects within six months, the White House said.
The US government will also invest in a refinery for the critical mineral gallium in Western Australia.
The US president was effusive in his praise for Mr Albanese during the meeting.
"We fought wars together and we never had any doubts. It's a great honour to have you as my friend," Mr Trump said.
"It's a great honour to have you in the United States of America."
Mr Albanese praised the US-Australia relationship and said Mr Trump's work on a Middle East ceasefire was "an extraordinary achievement".
There had been hope a critical minerals deal could be used as leverage for a tariff reduction on Australian goods entering the US, however, the prime minister didn't walk away with an exemption.
The prime minister did receive assurances from the president on the future of the AUKUS agreement, following uncertainty over a US review of the deal.
When asked about the submarine deal, Mr Trump said "they're getting them".
Under AUKUS, the US would give Australia Virginia-class nuclear submarines from the early 2030s.
US Navy Secretary John Phelan told the meeting the US and Australia were working very closely to improve the original AUKUS framework for all three parties, which includes the UK, "and clarify some of the ambiguity that was in the prior agreement".
Australia also agreed to purchase $US1.2 billion ($A1.8 billion) in Anduril unmanned underwater vehicles and take delivery of a first tranche of Apache helicopters in a separate $US2.6 billion ($A4 billion) deal, the White House said.
The only awkward moment during the meeting came when Mr Trump was asked about past criticism of him by Kevin Rudd, who is now the Australia's ambassador to the US.
Mr Rudd, who once called Mr Trump a traitor to the west, told the president that happened "before I took this position".
"I don't like you either, and I probably never will," Mr Trump said, as Mr Albanese and the Australian delegation laughed.
Foreign Minister Penny Wong said the meeting between the two leaders had been a success.
"This was a very good outcome, and reaffirms the approach that the government has taken, a calm, mature approach in the national interest," she told ABC radio.
Senator Wong said Australia was still in the best position out of other countries when it came to tariffs from the US.
Opposition Leader Sussan Ley said more work was needed to secure a tariff exemption.
