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

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