White House Announces Multiple Trade Deals Following President Trump’ s Tour of Asia( continued from page 9)
presumably at a later time,“ identify products from the list set out in Annex III to [ EO ] 14346 … to receive a zero percent reciprocal tariff rate.”
Shipbuilding Cooperation The United States and Japan signed a non-binding Memorandum of Cooperation addressing shipbuilding efforts. Key commitments include the establishment of a Japan-U. S. Shipbuilding Working Group, bilateral expansions of shipbuilding capacity, enhanced education and training for shipyard workforces, and development of digital solutions.
As noted above, the United States and South Korea have agreed that South Korea will invest $ 150 billion to expand U. S. shipbuilding capacity, as part of its investment commitments. These investments will focus on modernizing U. S. shipyards and strengthening supply chains, shipyard automation, and infrastructure development.
These initiatives signal a coordinated approach to maritime industrial capacity, with South Korea’ s partnership structured around substantial capital allocation and Japan’ s collaboration formalized through a cooperative framework.
Science and Technology Frameworks Both Japan and South Korea entered into non-binding Memoranda of Cooperation to advance science and technology. The U. S.-Japan Technology Prosperity Deal and U. S.-Republic of Korea Technology Prosperity Deal have overlapping commitments to accelerate artificial intelligence adoption and innovation, support 6G communications development, secure pharmaceutical and biotechnology supply chains, and deepen quantum information and civil space cooperation.
Critical Minerals Frameworks The United States and Japan also signed a critical minerals framework aimed at securing supplies of critical minerals and rare earths through coordinated economic policy and investment. Key features of the framework include joint identification and financing of priority projects, regulatory streamlining to accelerate permitting, measures to promote fair competition and counter unfair trade practices, authorities to deter sensitive asset sales on national security grounds, rapid response mechanisms via the to-be-established U. S.-Japan Critical Minerals Supply Security Rapid Response Group, and future collaboration on complementary stockpiling arrangements.
In addition, the United States agreed to memoranda of understanding with both Malaysia and Thailand on critical minerals, promoting cooperation and information sharing. Although neither memorandum is legally binding, the memorandum with Bangkok gives the United States the“ first opportunity to invest... in critical mineral assets that may be sold in Thailand” or by a Thai company, while the memorandum with Malaysia prioritizes U. S. investments in critical minerals.
Meanwhile, as part of its trade deal with the United States, Cambodia is set to ease restrictions on U. S. investment in its territory for the extraction of critical minerals.
Export Control Cooperation Cambodia and Malaysia also agreed, to differing extents, to harmonize their export control regimes with that of the United States. While Cambodia agreed to align with U. S. export controls“ on a case-by-case basis, based on requests from the United States,” Malaysia agreed to“ align with all unilateral export controls in force by the United States.”
Key Takeaways
• Should trade tensions between the United States and China again escalate, it is possible that Washington and Beijing could walk back their commitments.
• It is unclear how these trade deals will be impacted if the U. S. Supreme Court determines that the President cannot impose broad tariffs of unlimited duration( i. e., the“ trafficking” and“ reciprocal” tariffs) under the International Emergency Economic Powers Act. While companies may create long-term strategies for these frameworks, they should also be prepared for any potential changes to trade policies implemented by the Trump Administration.
• Many of these frameworks contain provisions for enhanced oversight of supply chains within various high-technology and critical mineral industries. In parallel with the Trump Administration’ s increased attention to supply chain issues such as forced labor and rules of origin, companies that may be affected should ensure they are prepared to capitalize on new opportunities arising from policy and investment changes, while also being ready for potential oversight and regulatory controls.
This article was first published as an International Trade client alert on November 13, 2025.
p – 2026 BLANK ROME LLP
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