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Trump’s Rare Earth Pact with Australia Sets Stage for Explosive Xi Meeting in South Korea

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President Donald Trump and Australian Prime Minister Anthony Albanese have signed a new rare earth partnership deal — a framework designed to fortify U.S. access to Australia’s mining and processing of critical minerals, while cutting China out of the global supply chain it currently dominates.

The agreement, worth at least $1 billion in financing, marks the boldest step yet in Washington’s campaign to “de-risk” global dependence on China, just days before Trump’s long-anticipated face-to-face meeting with Chinese President Xi Jinping at the APEC summit in Gyeongju, South Korea.

“I don’t want them to play the rare earth game with us,” Trump said, vowing triple-digit tariffs if Beijing continues restricting exports. “I could threaten them with many other things.”

The new pact underscores a shifting global power equation: as China tightens its export chokehold on materials essential for electronics, defense systems, and renewable energy.

The U.S. is scrambling to build an alternative axis of supply — anchored in Australia’s vast resource fields and bolstered by allies in Japan, Malaysia, and South Korea.

Trump’s upcoming Asia tour, which includes ASEAN meetings in Malaysia and bilateral talks in Tokyo, is being carefully choreographed to build momentum ahead of the Gyeongju showdown.

Treasury Secretary Scott Bessent has already met with China’s Vice Premier He Lifeng, describing talks as “frank and detailed.”

But the road ahead is anything but smooth. Analysts warn that despite the flurry of deals, China still controls nearly 90% of global rare earth processing capacity, giving Xi significant leverage at the table. “Even with reshoring and friend-shoring efforts, the U.S. is still many years away from self-sufficiency,” Raymond James analysts Ellen Ehrnrooth and Ed Mills noted.

Trump’s aides say the U.S.-Australia deal is “about taking the global economy and making it less exposed to Chinese extortion.”

Yet Trump himself has hinted that the Gyeongju meeting could yield a broader bargain — or a new confrontation. “I think we’ll work out something good for both countries,” he said, adding that his threat of 100% tariffs remains on the table for November 1.

Behind the optimism lies a familiar volatility. Trump’s willingness to swing between cooperation and confrontation has left markets jittery — and Xi’s team cautious.

Both leaders are walking into the South Korea summit knowing that a misstep could tip the rare-earth standoff into a full-blown economic Cold War.

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Australia Commits $2.7 Billion to Advance Nuclear Submarine

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A new shipyard, nuclear-powered submarines, and a decades-long investment — Australia doubles down on AUKUS.

Australia will spend A$3.9 billion ($2.76 billion) to advance construction of a new shipyard that will underpin its nuclear-powered submarine program under the AUKUS defense pact with the United States and Britain, Prime Minister Anthony Albanese announced Sunday.

The funding will support development of a major submarine construction yard at Osborne, near Adelaide in South Australia. Albanese described the investment as a “down payment” toward a project expected to cost around A$30 billion over coming decades.

AUKUS, unveiled in 2021, represents Australia’s largest-ever defense investment. Under the agreement, U.S.-commanded Virginia-class submarine vessels will rotate through Australian bases beginning in 2027. From around 2030, several of those submarines are expected to be sold to Australia. Britain and Australia will later jointly develop and build a new class of nuclear-powered submarines.

The Osborne site, where Australia’s ASC and Britain’s BAE Systems will collaborate, will serve as the hub for future submarine construction. Until full production begins later this decade, the facility will continue maintaining Australia’s aging Collins-class fleet.

South Australian Premier Peter Malinauskas said the initial funding would go toward enabling infrastructure for the expanded yard, calling it only the beginning of a broader transformation.

The announcement follows a recent Pentagon review that identified areas to strengthen the AUKUS program, including ensuring Australia accelerates development of its nuclear submarine industrial capacity.

The move underscores Canberra’s long-term commitment to deepening strategic ties with Washington and London, as regional security competition intensifies in the Indo-Pacific.

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Guterres: Climate Target Slipping, Africa Demands Fair Financing

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The 1.5°C limit will be breached, the UN chief warns — now the focus shifts to damage control and climate justice for Africa.

Antonio Guterres warned that the world is on course to exceed the 1.5 degrees Celsius global warming threshold, urging major economies to accelerate emissions cuts while calling for a dramatic increase in climate financing for Africa.

“The science is unequivocal. The planet will overshoot the 1.5 degrees Celsius limit,” Guterres said. “Our common task is to make that overshoot as small, short and safe as possible.”

He emphasized that the G20, which accounts for nearly 80 percent of global greenhouse gas emissions, must deliver steep reductions this decade to prevent further escalation of climate risks.

At the same time, Guterres highlighted Africa’s untapped clean energy capacity. The continent holds roughly 60 percent of the world’s best solar resources, he noted, yet receives only 2 percent of global clean energy investment. Despite contributing minimally to historic emissions, Africa is warming faster than the global average and faces growing climate impacts.

Adaptation, he said, must be treated as a priority equal to mitigation. Guterres called on developed countries to triple adaptation finance and to mobilize $1.3 trillion annually for developing nations by 2035. He also urged expanded funding for the Loss and Damage mechanism, faster transition from fossil fuels to renewable energy and wider deployment of early warning systems.

Addressing the issue of critical minerals essential to the energy transition, Guterres stressed that African countries must reap fair benefits from their natural resources. “No more exploitation, no more plundering,” he said. “The people of Africa must benefit from the resources of Africa.”

He concluded by reaffirming that partnership with Africa — spanning climate action, peace and sustainable development — will remain central to the United Nations’ agenda in the years ahead.

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Airport Lines, Delays Possible as DHS Shutdown Nears

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Another shutdown fight in Washington — and travelers could feel it first at airport security.

A partial shutdown of the Department of Homeland Security appeared imminent after Congress failed to reach agreement on immigration-related funding, raising concerns about disruptions for travelers and federal employees.

The funding lapse would affect agencies under DHS, including the Transportation Security Administration, which oversees security at more than 430 commercial airports. While TSA officers would continue working as “essential employees,” they would not receive pay until funding is restored.

During the previous 43-day shutdown, many TSA employees reported financial hardship, and absentee rates increased, contributing to flight delays and disruptions. Acting TSA Administrator Ha Nguyen McNeill warned lawmakers earlier this week that workers are still recovering from that period. “We cannot put them through another such experience,” she said.

The current impasse stems from disputes over immigration enforcement policies. Democrats are seeking changes within DHS, including stricter use-of-force standards, body camera requirements and limits on mask-wearing by federal agents. Republicans have rejected several of those proposals, arguing they could endanger officers.

Even if funding lapses, many DHS law enforcement functions — including operations by U.S. Immigration and Customs Enforcement (ICE) and Customs and Border Protection — would continue. However, administrative functions would scale back, and thousands of employees could see delayed paychecks.

The head of the Federal Emergency Management Agency has warned that a shutdown would hinder disaster reimbursement to states. Other federal services outside DHS — such as air traffic control and food assistance programs — would not be affected.

With Congress not scheduled to reconvene for votes until later this month, the duration of any shutdown remains uncertain. For travelers, the immediate concern is airport security lines and potential staffing shortages — a reminder that even a partial government closure can ripple quickly through daily life.

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Middle East

DP World Appoints Essa Kazim as Chairman

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A major reshuffle at one of the world’s largest port operators — DP World names new leadership as it eyes long-term growth.

DP World announced Friday the appointment of Essa Kazim as chairman of its board of directors and Yuvraj Narayan as group chief executive officer, marking a significant leadership transition at the global logistics and port operator.

Kazim, who currently serves as governor of the Dubai International Financial Centre and chairman of Borse Dubai, brings decades of experience in financial and economic policy. He has also held senior roles within Dubai’s regulatory and fiscal institutions, including deputy chairman of the Supreme Legislation Committee and member of the Securities and Exchange Higher Committee.

His career began at the UAE Central Bank in 1988 before moving to the Dubai Department of Economic Development. He later served as director-general and then chairman of the Dubai Financial Market, playing a central role in shaping the emirate’s capital markets.

Narayan, who has been with DP World since 2004 and served as group chief financial officer since 2005, takes the helm after overseeing key strategic and financial initiatives that supported the company’s global expansion. The company credited him with strengthening financial resilience and operational efficiency across international markets.

Before joining DP World, Narayan held senior finance roles at ANZ Group and served as chief financial officer at Salalah Port Services in Oman.

DP World said the appointments align with its long-term strategy for sustainable growth and reinforce its position as an integrated global supply chain provider.

In a related move, Mohammed bin Rashid Al Maktoum issued a decree appointing Abdulla bin Damithan as chairman of the Ports, Customs and Free Zone Corporation, further reshaping leadership within Dubai’s trade and logistics sector.

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Herzog Pushes Back on Trump’s Netanyahu Pardon Demand

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A mid-air moment of diplomacy: Trump calls for Netanyahu’s pardon — Herzog answers at 30,000 feet.

Israeli President Isaac Herzog pushed back Thursday after U.S. President Donald Trump publicly urged him to pardon Prime Minister Benjamin Netanyahu, saying Israel’s decisions are governed by its own laws.

Trump made the remarks during a White House event while Herzog was returning from a four-day visit to Australia. “He should give it,” Trump said, referring to a pardon for Netanyahu. “The people of Israel should really shame him. He’s disgraceful for not giving it.”

According to Israeli officials, Herzog was informed of Trump’s comments mid-flight and convened advisers aboard the plane to craft a response. In a statement issued from the aircraft, the President’s Residence said that any pardon request submitted by Netanyahu is currently under review by Israel’s Justice Ministry for a legal opinion.

“Only after the process is concluded will the president examine the request in accordance with the law, the good of the state, and his conscience — and without any influence from external or internal pressures of any kind,” the statement said.

The statement also expressed appreciation for Trump’s support of Israel’s security but emphasized that Israel is “a sovereign state governed by the rule of law.”

Pressed by reporters traveling with him for a personal reaction, Herzog replied tersely: “To the best of my recollection, I am the president of Israel.”

Netanyahu has been facing ongoing legal proceedings in Israel, and the question of a presidential pardon has drawn intense domestic debate. Herzog has previously said any such request would be handled strictly according to established legal procedures.

The exchange highlights the delicate balance between Israel’s close relationship with Washington and the independence of its judicial and constitutional processes.

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Washington Warns Taipei: Boost Defense Now as China Threat Intensifies

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A bipartisan group of 37 U.S. lawmakers has urged Taiwan’s parliament to approve a stalled defense spending package, warning that the threat from China is intensifying.

In a letter addressed to Legislative Speaker Han Kuo-yu and leaders of Taiwan’s main political parties, the lawmakers said Beijing’s pressure on the island “has never been greater.” The letter cited Chinese President Xi Jinping and accused China of using all elements of its national power to assert control over Taiwan.

President Lai Ching-te last year proposed roughly $40 billion in additional defense spending to strengthen Taiwan’s military capabilities and accelerate U.S. weapons purchases. But opposition parties, including the Kuomintang and the Taiwan People’s Party, which control a majority in parliament, have declined to review the full proposal, advancing smaller alternatives instead.

The U.S. lawmakers acknowledged delays in American weapons deliveries but said Taiwan must also increase its own investment to maintain credible deterrence.

Taiwan’s defense minister has warned that further delays could weaken coordination with Washington. The United States remains Taiwan’s primary security partner despite the absence of formal diplomatic ties.

China considers Taiwan part of its territory and has not ruled out the use of force to bring the island under its control.

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Kim Jong Un’s Teenage Daughter Emerges as Likely Successor

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A missile launch debut. A mausoleum visit. A party congress ahead. Is North Korea preparing its next ruler?

South Korea’s intelligence agency told lawmakers Thursday that it believes the teenage daughter of North Korean leader Kim Jong Un is approaching formal recognition as his successor, signaling a potential fourth generation of dynastic rule in Pyongyang.

In a closed-door briefing, the National Intelligence Service said Kim’s daughter — widely believed to be named Kim Ju Ae and around 13 years old — appears to be entering what officials described as a “successor-designate stage.” The assessment marks a notable shift from earlier descriptions of her being in “successor training.”

The timing is significant. North Korea is preparing for a major congress of the Workers’ Party of Korea later this month, where Kim is expected to outline five-year policy goals and consolidate his authority. Lawmakers briefed by the agency said intelligence officials are closely watching whether the girl appears alongside her father before thousands of party delegates — a symbolic gesture that could carry political weight.

Kim Ju Ae first appeared publicly at a long-range missile test in November 2022. Since then, she has accompanied her father to high-profile military parades, weapons inspections and factory openings. Her presence at a summit in Beijing last year and, more recently, at Pyongyang’s Kumsusan Palace of the Sun — the mausoleum housing the embalmed bodies of Kim Il Sung and Kim Jong Il — intensified speculation that she is being positioned as heir.

North Korea has never publicly confirmed her name, referring to her only as Kim’s “most beloved” or “respected” child. The belief that she is Kim Ju Ae stems from remarks by former NBA star Dennis Rodman, who said he held Kim’s infant daughter during a 2013 visit.

For decades, North Korea’s leadership has passed exclusively through male members of the Kim family. Analysts previously questioned whether the country’s deeply patriarchal political culture would accept a female successor. But her increasingly prominent role in state propaganda has prompted reassessment.

Some experts argue that Kim Jong Un’s own abrupt ascent — formally designated heir at 26 after his father suffered a stroke — may influence his approach. Introducing a successor early could provide greater continuity and stability.

Whether the upcoming party congress formalizes her status remains uncertain. Formal party rules set age thresholds for senior posts, suggesting any confirmation could be subtle rather than explicit. Observers say language praising the “inheritance of the revolution” could serve as an indirect signal.

If confirmed, the move would reinforce the Kim dynasty’s grip on power, extending a lineage that has ruled the isolated state since 1948 — and reshaping the future of one of the world’s most tightly controlled political systems.

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Trump Says All Governors Invited to White House Meeting

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A bipartisan tradition turns political. Why are two Democratic governors excluded from Trump’s White House invite list?

President Donald Trump said Wednesday that he has invited nearly every U.S. governor — Democrat and Republican alike — to a long-standing bipartisan meeting at the White House next week, carving out two exceptions: Maryland Gov. Wes Moore and Colorado Gov. Jared Polis.

The annual session, organized in connection with the National Governors Association (NGA), has traditionally served as a rare moment of cross-party dialogue between state leaders and the president. This year’s gathering, scheduled for Feb. 20, instead ignited confusion and partisan friction.

In a post on Truth Social, Trump asserted that invitations “were sent to ALL governors” except Moore and Polis. He also criticized Oklahoma Gov. Kevin Stitt, the NGA chair, calling him a “RINO” — Republican in name only — and accusing him of misrepresenting the White House’s position.

Trump’s statement appeared to contradict earlier communications from NGA officials. Last week, the group said it had been informed by the White House that only Republican governors would be invited to the Feb. 20 business meeting. As a result, NGA leaders said they removed the event from their formal agenda, citing the association’s bipartisan mission.

Shortly before Trump’s post, NGA Chief Executive Brandon Tatum said Stitt had spoken with the White House and that all governors from “all 55 states and territories” would attend. In an email obtained by NBC News, Stitt told fellow governors that Trump had been “very clear” that the event was intended for the full NGA membership and that a scheduling misunderstanding had been addressed.

Complicating matters further, a source familiar with the situation said Moore had received an invitation Wednesday afternoon, prior to Trump’s public statement. A spokesperson for Polis declined to confirm whether Colorado had been formally invited, but said the governor remained focused on bipartisan cooperation regardless of the administration’s posture.

The status of a separate governors’ dinner, typically held alongside the business session, remains uncertain.

The dispute underscores how even routine Washington traditions can become flashpoints in an era of heightened political polarization. What was once a symbolic display of federal-state partnership has, at least for now, become another test of party lines — and presidential messaging.

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