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PHL posts middling rating on retirement preparedness index

RETIREMENT preparedness in the Philippines has been assessed as suboptimal based on a survey of 1,000 adults, Insular Life Assurance Co. Ltd. (InLife) said.

“We want a higher score because the score indicates how prepared we are as a nation,” InLife Chief Marketing Officer and Chief Bancassurance Officer Gae L. Martinez said at a briefing on Tuesday.

The Philippines was rated 47 on a scale of 100 on InLife’s retirement index, which the company said was in the medium range but far from optimal.

The survey respondents were aged 18 to 59 across various income classes.

“47 is on the low side so there’s definitely a lot of room to improve the readiness of Filipinos,” InLife Chief Product and Innovation Officer Jose Eduardo O. Ang said.

“Many Filipinos only begin to seriously think of retirement if there are changes in their life. So, if they get married, they have children. It’s often reactive. We don’t have a proactive mindset in terms of retirement,” InLife Business Insight and Community Management Head Abigail A. Magtibay said.

“For the average Filipino, there’s still a tendency (to keep funds in) savings or digital wallets, but what will be good to increase our retirement readiness would be to diversify into other financial instruments. We also look at insurance ownership. Inlife policy holders scored 62 compared to their counterparts that do not have an Inlife policy, who scored 42,” she said.

“Filipinos who feel excited about retirement, and have a positive sentiment toward retirement, will score significantly higher on the index. In contrast, those who are indifferent or anxious will tend to delay planning. Of course, that would mean a lower score,” she added.

“The index also shows that social support is a key driver. People who regularly discuss retirement with their family, with their friends, or financial advisors would score higher because they are more prepared,” she said.

Ms. Magtibay added coverage under the Social Security System and Government Service Insurance System is insufficient, especially for those in informal employment.

“Many Filipinos, especially those in the freelance or gig economy or informal employment, have no employer-provided pension plans and have limited awareness for their entitlements. The index shows that pension participation contributes significantly to retirement readiness. On the other hand, those who have employer-provided pension plans would show higher preparedness,” she said. — Aaron Michael C. Sy

Casiguran port development deal signed

NEW.APECO.GOV.PH

THE Aurora Pacific Economic Zone and Freeport Authority (APECO) said it signed a memorandum of agreement (MoA) with South Korea’s Yooshin Engineering Corp. and the Philippines’ Lordsbridge Resources Corp. to develop the Casiguran International New Port in Aurora.

In a statement on Tuesday, it said APECO President and Chief Executive Officer Gil G. Taway IV, Yooshin Director and Philippine Regional Representative Jin Ho Lee, and Lordsbridge Resources President Victor Lee signed the agreement on Oct. 28.

“Through this partnership, APECO aims to correct that imbalance by developing Casiguran Port into a resilient gateway that opens the Philippines directly to Pacific trade routes and drives inclusive development across the eastern corridor of Luzon,” Mr. Taway said.

Yooshin Engineering will update the 2011 Korean Export-Import (KEXIM) Bank feasibility study. Lordsbridge will serve as the developer and funding coordinator, while APECO will provide policy, logistical, and data support for the study.

The 2011 feasibility study by KEXIM identified Bangas Point in Casiguran Bay as the optimal site due to its deep waters and natural protection from typhoons.

“According to the old port study, the Casiguran Port would cost around $56 million. Adjusted for inflation, the current investment needed to build would be around $83 million (P4.7 billion),” APECO said.

Citing the KEXIM study, APECO said the port will feature multipurpose berths, passenger and fishery wharves, and supporting facilities.

Once operational, the port is also projected to handle over one million tons of cargo annually, servicing the logistics needs of APECO Freeport.

Port development will be conducted in phases, starting with the updated feasibility study in 2025-2026, followed by design and regulatory approvals in 2026-2027.

Construction and development of the port is scheduled between 2027-2030, with the project due for completion by 2030. — Beatriz Marie D. Cruz

PEZA on track to hit 2025 investment pledges goal

THE Philippine Economic Zone Authority (PEZA) said it is on track to achieve this year’s P250-billion investment pledges target.

“We’re hopeful because we’re targeting P250 billion, but the ambitious target is P300 billion,” PEZA Director General Tereso O. Panga told reporters on the sidelines of the Philippine Semiconductors and Electronics Convention and Exhibition on Tuesday.

“With maybe three or four board meetings to go, we’re hopeful that we can realize more investments.”

Mr. Panga said that as of the end of October, PEZA approved over P170 billion worth of investment pledges. In October, investment approvals stood at P20 billion.

PEZA has yet to release a detailed breakdown of investment approvals for October.

Mr. Panga noted a decline in ecozone exports of finished electronic products to the US as the reciprocal tariffs caused a drop in demand.

“We have companies that reduced their production for export to the US, because there’s a huge drop in demand for their products; thus, the need to scale down,” he said.

The US began imposing a 19% tariff on Philippine goods on Aug. 7.

He noted that uncertainty over US tariff policy is “a cause for concern.”

US President Donald J. Trump also threatened to impose sectoral tariffs on chips as high as 300%.

At present, semiconductor exports are not included in the 19% tariff imposed by the US on Philippine-made goods.

“We’re hopeful that it will remain that way for EMS (electronics manufacturing services) products, being our biggest sector in the Philippines.”

Meanwhile, PEZA has yet to see the impact of the infrastructure corruption scandal on investment pledges.

“As we speak, it’s all positive for PEZA when it comes to investments, exports and jobs. Investments have been going up, upward trajectory, so we don’t feel that yet,” Mr. Panga added. — Beatriz Marie D. Cruz

Freddie Freeman home run gives LA Dodgers 2-1 lead vs Blue Jays

LOS ANGELES DODGERS first baseman Freddie Freeman hits an RBI single against the Toronto Blue Jays. — REUTERS/KIYOSHI MIO-IMAGN IMAGES

The 18-inning game matched the longest in World Series history

LOS ANGELES — Freddie Freeman hit a game-ending home run in the 18th inning, Shohei Ohtani hit two homers and the Los Angeles (LA) Dodgers pulled off a 6-5 victory over the Toronto Blue Jays on Monday in Game 3 of the World Series.

Teoscar Hernandez also hit a home run, while Ohtani added two doubles and reached base a postseason-record nine times with five walks (four intentional) as the Dodgers pulled in front 2-1 in the best-of-seven series after losing Game 1 at Toronto.

The 18-inning game matched the longest in World Series history, also at Los Angeles in 2018 against the Boston Red Sox. Monday’s contest lasted 6 hours, 39 minutes, the second-longest World Series game by time.

Game 4 is Tuesday at Los Angeles, with Ohtani opposing Toronto right-hander Shane Bieber.

Freeman’s leadoff home run in the 18th came against left-hander Brendon Little (0-2) and made a winner of Los Angeles right-hander Will Klein (1-0), who gave up one hit with five strikeouts over four scoreless innings.

Ohtani hit home runs in the third and seventh innings and has five home runs over his last two home playoff games. Seldom-used right-handers Edgardo Henriquez and Klein combined to pitch six scoreless innings as Los Angeles used a World Series-record 10 pitchers, including left-hander Clayton Kershaw for one out to escape a bases-loaded jam in the 12th.

Alejandro Kirk hit a home run for the Blue Jays, who have lost consecutive games after scoring 11 runs in their Game 1 victory at home. Toronto used nine pitchers, with left-hander Eric Lauer pitching 4 2/3 scoreless innings in relief.

The Dodgers took a 1-0 lead in the second on Hernandez’s home run, his fifth of the postseason. Ohtani gave the Dodgers a 2-0 lead with a home run down the right field line in the third.

The Blue Jays took the lead with a four-run fourth that included a three-run home run from Kirk and a sacrifice fly from Andres Gimenez for a 4-2 advantage.

The Dodgers got even at 4-4 in the fifth on a one-out RBI double from Ohtani and a two-out RBI single just inside of first base by Freeman.

After Toronto’s George Springer departed with an injury to lead off the seventh, the Blue Jays pushed ahead 5-4 in the inning on a two-out single from Vladimir Guerrero, Jr. off right-hander Blake Treinen and an RBI single from Bo Bichette to score Guerrero from first base.

Ohtani’s fifth home run in his last two playoff games at Los Angeles, this one off right-hander Seranthony Dominguez, tied the score 5-5 in the seventh. It was Ohtani’s eighth of the postseason and third of the World Series.

Dodgers second baseman Tommy Edman threw out Isiah Kiner-Falefa trying to advance to third base in the ninth and threw Davis Schneider out at home to end the top of the 10th on a relay from Hernandez in right field. — Reuters

SBP elects Ricky Vargas as president and Manny Pangilinan as chairman

THE Samahang Basketbol ng Pilipinas (SBP) has elected PBA Chairman Ricky Vargas as president and PLDT honcho Manny Pangilinan as chairman.

Mr. Vargas, who served as vice-president under outgoing chief Al Panlilio, and Mr. Pangilinan, who was previously chairman emeritus, will lead a board consisting of 17 seats, 13 of which were filled through an election among the federation’s 34 active members to “ensure broad sectoral representation across Philippine basketball.”

Elected sectoral representatives were Paul Tristan Laus (North Luzon), Edgar Francisco (South Luzon), Robert Uy (Visayas), Renauld Barrios (Mindanao), ose Franco Soberano (Youth), o Perasol, Manuel Raymund Castellano and Eric Altamirano (Schools), Vivian Manila (Women’s) and Messrs. Pangilinan, Vargas, Alfrancis Chua and Archen A. Cayabyab (Commercial and Professional).

Two co-opted members, Jacob Ang and Chaye Cabal-Revilla, were appointed by the president, while Ryan Reyes was named player representative and Peachy Cheng Medina was selected as the interim 3×3 representative.

Mr. Panlilio will remain a valued member of the board by virtue of his position as a FIBA Central Board member.

“This new SBP Board is a healthy mix of wisdom-filled veterans and passionate young leaders who share a common purpose — to build a stronger, more unified future for Philippine basketball,” said Mr. Vargas.

“We’re setting the foundation for the next generation of sports leaders to continue the growth and excellence that Filipino basketball is known for,” he said.

Mr. Pangilinan emphasized SBP’s continued drive for inclusivity and development across all levels of the sport.

“This new SBP Board is a reflection of how far Philippine basketball has come — more inclusive, more representative, and more forward-looking. For the first time, we have three female trustees on the board, even with fewer seats overall, ensuring that the voice of women in basketball continues to grow stronger,” he said.

“The addition of player and 3×3 representatives further broadens our perspective. And with promising young leaders like Jacob Ang and Franco Soberano, we’re making sure that basketball development in the country never stops — it only grows deeper and more united.” — Olmin Leyba

TNT, NLEX eye third straight win against separate foes

Games on Wednesday
(Ynares Center-Antipolo)
5:15 p.m. – Blackwater vs NLEX
7:30 p.m. – Meralco vs TNT

TNT and NLEX set their sights on their third straight victories against separate foes and with it, continued hold of pole position in the PBA Season 50 Philippine Cup on Wednesday at Ynares Center-Antipolo.

The Road Warriors (3-1) carry out this mission against Blackwater (1-2) at 5:15 p.m. while Tropang 5G (3-1) seek the same against Meralco (3-2) at 7:30 p.m.

Their respective rivals are bent on advancing their own agenda, though.

The Bossing are out to snap a two-game slide and the Bolts are intent on rebounding from their previous 85-98 loss to NLEX and delivering a winning performance before taking a long break in the PBA to tackle their East Asia Super League campaign.

After the duel with TNT, Meralco will return to action on Dec. 12 against Terrafirma. During this lull, the Bolts will play back to back against Taoyuan Pauian Pilots (Nov. 2 in Taoyuan and Nov. 8 in Ilagan, Isabela) and the Macau Black Bears (Nov. 15 in Ilagan and Dec. 6 in Macau).

The Tropang 5G will surely provide a tough test for the Bolts before they go on international duty.

Coach Chot Reyes’ side, runner-up in Season 49, has been on an upswing, especially with Brandon Ganuelas Rosser and Jordan Heading returning from injuries in their Ws over Converge, 110-103, and Titan, 130-92. — Olmin Leyba

Eala-Chan duo gets early door at Hong Kong Open

ALEX EALA’S bid in the Hong Kong Open is off to a sputtering start as she and Taiwanese partner Chan Hao-ching got the boot early in the women’s doubles on Monday night.

Mses. Eala and Chan took the opening set but failed to sustain the charge and yielded a 6-3, 1-6, 7-10 defeat to Belarusian Aliaksandra Sasnovich and Russian Kamilla Rakhimova.

The three-set stinger came as a dampener as the Filipina ace soared to a new career high of 51 in the WTA rankings just hours before the Round-of-16 encounter.

No time to dwell on this, the 20-year-old netter quickly shifted focus to the singles play, determined more than ever to make a deep run in the event.

Ms. Eala was slated to battle British Katie Boulter in her Round-of-32 opener on Tuesday. — Olmin Leyba

Pinoy tanker Ajido settles for silver in boys’ 100m in Asian Youth Games

MANAMA — Filipino tanker Jamesray Ajido delivered a medal as promised and snared a silver in the boys’ 100-meter (m) butterfly event as Alas Pilipinas missed out on matching it after stumbling to Iran in a heartbreaking semifinal defeat in the 3rd Asian Youth Games here.

Mr. Ajido, 16, went for the gold but ended up with the silver after clocking 55.11 seconds behind only Iranian Mohammadmahdi Gholami, who copped the gold with a blistering 54.75 seconds at the Khalifa Sports City swimming pool.

It was another medal on the international stage for De La Salle-Greenhills stalwart, who struck gold in the South Asian and Asian Age Group Championships in Bangkok and New Clark City in Tarlac, respectively, last year.

That feat hiked the Philippines’ medal total to six golds, six silvers and seven bronzes, which kept it at No. 8 in the overall medal tally that was being dominantly led by the rampaging Chinese, who have run away with the overall crown with an insurmountable 42-33-14 (gold-silver-bronze) harvest.

The Nationals had a chance to ensure themselves of another silver in girls’ volleyball but couldn’t sustain a strong start and succumbed to the Iranians, 26-28, 25-18, 25-19, 25-18, that denied the former a spot in the finals and a crack at the gold.

Instead, it will be Iran versus Indonesia battling for that mint.

The Filipinas though will have a chance at consoling themselves of a bronze as they battle the Thais on Wednesday at the Isa Sports City.

Rhose Almendralejo, who was plucked from Tay Tung from Bacolod to reinforce this team of National University standouts, had a scorching outing with 25, 23 of which came off attacks.

It wasn’t meant to be though as Iran had all the answers.

“It was really painful,” said Alas libero Atasha Doroja. “We’ll give it our best to get that bronze.”

In weightlifting at the Exhibition World Bahrain, Alexsandra Ann Diaz, another niece of Tokyo Olympics gold winner Hidilyn Diaz, snared a clean and jerk bronze to add to the other two medals won by her sister Princess Jay Ann Diaz and Jay-R Colonia the day before.

Jhodie Peralta, a world junior’s champ, was fighting it out for a medal, possibly a gold, in the girls’ 53kg class as of this writing.

In badminton also at the EWB, Cris Ivan Dosano, Ron Ezekial Zacarias and Eve Bejasa all hurdled their opening round assignments.

Mr. Dosano slammed Bahraini Ali Alashador, 21-5, 21-9, Mr. Zacarias dumped Maldives’ Ibrahim Hamdi, 21-8, 21-11, both in the boys’ singles and Ms. Bejasa walloped Bangladeshi Margaret Biswas, 21-9, 21-4, and Cambodian Mak Nitajulie, 21-6, 21-6, to barge into the girls’ singles’ round-of-16. — Joey Villar

Setter Jia de Guzman delays PVL return for SEAG duty in Thailand

BATTLE-SCARRED setter Jia de Guzman skipped her return to Creamline in the Premier Volleyball League (PVL) for a bigger purpose — help the country win a medal in this December’s Southeast Asian Games (SEAG) in Thailand.

And she will have her chance as she was named as Alas Pilipinas’ captain in the 19-strong squad that was finalized and announced on Tuesday by the Philippine National Volleyball Federation (PNVF).

“Nothing less than the gold medal,” said PNVF Chief Ramon Suzara on Alas’ ultimate target in the biennial event.

Apart from Ms. De Guzman, Alyssa Solomon, Bella Belen, Angel Canino, Eya Laure, Shaina Nitura, Thea Gagate, Fifi Sharma, Shaina Nitura, Justine Jazareno and Vannie Gandler were among those selected in the team.

The rest were Kat Tolentino, Julia Coronel, Dawn Catindig, Mars Alba, Jen Nierva, Alleliah Malaluan, Dell Palomata, Amie Povido and Maddie Madayag.

The same pool will temporarily leave their respective PVL and collegiate teams to join a training camp from Nov. 15 to 30 in Japan or Chinese Taipei before plunging into action in the Thai capital from Dec. 10 to 19.

And that mint the team is eyeing, if achieved, would end the country’s 32-year-old gold drought in the meet. — Joey Villar

Red-hot DLSU faces listless UE; UST battles tough Adamson

Games on Wednesday
(SM Mall of Asia Arena)
8 a.m. – FEU vs Ateneo (Women)
10 a.m. – NU vs UP (Women)
noon – UST vs ADU (Women)
2 p.m. – UST vs ADU (Men)
4:30 p.m. – UE vs DLSU (Men)
7 p.m. – UE vs DLSU (Women)

UNDERMANNED but red-hot De La Salle University (DLSU) faces a familiar foe in the listless University of the East (UE) to shore up its ascent to the top in the UAAP Season 88 men’s basketball tournament on Wednesday at the Mall of Asia Arena.

Game time is at 4:30 p.m. with the blazing DLSU Green Archers looking for their fourth straight win against the same team that started their streak in a bid to catch titleholder University of the Philippines (UP) at second place. University of Santo Tomas (UST) and Adamson University (4-4) clash at 2 p.m.

At 5-3, La Salle sits at joint third with Santo Tomas with a win propelling it to a piece of the coveted No. 2 seed for a twice-to-beat advantage in the Final Four.

The Green Archers in the first round had their backs against the wall outside the Top 4 with a 2-3 slate only to score a much-needed 111-110 overtime win over UE.

That win came with a dear cost though as Kean Baclaan went down with a season-ending MCL injury to follow suit to Mason Amos with the similar injury against National University the game prior.

The same game resulted in a three-game suspension of UE guard Wello Lingolingo after his unsportsmanlike foul upon diving on Mr. Baclaan’s knee and the four-game ban of UE mentor Chris Gavina due to his post-game rants marred by expletives on the officiating.

And while the Green Archers could have bowed their heads, melted down and sank from there, the development only fueled their hearts to keep pushing to now stabilize a title retention bid with an incomplete crew.

“We’ve been losing players and that has been one of our drives, and it’s just so fortunate or blessed to have players always being ready to contribute,” said the embattled coach Topex Robinson.”

“We always talk about ‘we, us and ours.’ It’s always about what you could bring into the bigger piece of the pie sa team. You lose some players, you gain some players.”

Sans Messrs. Baclaan and Amos, the hoopers from Taft indeed found new heroes in Vhoris Marasigan, JC Macalalag and Earl Abadam who have complemented Jacob Cortez and Mike Phillips in their streak — the longest now in the UAAP — that included a huge 72-69 on UP to end the first round.

“It’s just everybody finding their way to contribute to this team. You didn’t come into this program by accident. You came here because we saw something in you. It’s about just being called and being ready. It’s just fun to watch those guys respond to the challenge,” added Mr. Robinson.

UE marches into battle with two warriors down as well as Mr. Lingolingo and Mr. Gavina serve their second suspension in a must-win battle to keep what’s left of any of its semis hopes alive at 0-8.

Mathematically with only NU and UP sporting six wins, the Red Warriors could still catch a playoff bus but only if they sweep all their remaining games. — John Bryan Ulanday

Dončić-less Mavs

Cooper Flagg arrived in Dallas bearing the weight of expectations borne of tragedy in the eyes of fans: top pick, new era, fresh start in the wake of the departure of erstwhile cornerstone Luka Dončić. The other day, the Mavericks’ first glimpse of the new dispensation took shape. In a 139-129 win over the Raptors, the first overall selection of the 2025 draft scored 22 points, had four rebounds and four assists, and helped spark a third-quarter surge that broke the game open.

To be sure, the Mavericks’ first victory of the young season was less about a rookie making a splash than of their new reality in a post-Dončić era. They entered the contest reeling from an 0-2 start and searching for identity. Flagg’s dunk over Sandro Mamukelashvili — off a look-ahead feed from D’Angelo Russell in transition — gave otherwise-frustrated followers of the blue and white hope for the future.

The Mavericks ripped off a 26-9 run in the pivotal quarter on the strength of Flagg’s contributions; his seven markers and three dimes during the burst were reflective of their effort to push the pace. Hitherto ranked last in offensive efficiency, they attacked with speed and had the Raptors reeling from their output: 25 fast break points, 70 in the paint, 29-of-39 from the free throw line.

All the same, head coach Jason Kidd is right to preach caution. Flagg at 18 years and 309 days became the fifth-youngest player in NBA history — after Kobe Bryant, LeBron James, Tracy McGrady and Jermaine O’Neal — to score at least 20 in an outing. His credentials are impressive, true, but the road to stardom remains long. Talent opens doors; consistency builds legacies.

In any case, the Mavericks cannot but deem Flagg’s performance a step in the right direction. With public sentiment on the divorce from Dončić continuing to lean to the negative, they need evidence that their rebuild likewise brings renewal. And, if nothing else, the other day provided validation of the roster’s potential to be greater than the sum of its parts: Anthony Davis chipped in 25 and 10, Russell added 24 and six, and seven players all told hit double figures.

Even in the glow, however, questions linger. Can Flagg sustain this kind of production? Will the Mavericks maintain their newfound offensive verve when the schedule tightens? Does Davis have the motivation to provide much-needed leadership? Having just begun, this chapter demands patience. The win is already fading from memory, but the habits must stick.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994. He is a consultant on strategic planning, operations and human resources management, corporate communications, and business development.

Trump praises Japan’s ‘great’ female leader in talks on trade, critical minerals

US PRESIDENT Donald J. Trump and Japanese Prime Minister Sanae Takaichi hold signed documents regarding securing the supply of critical minerals and rare earths, at a bilateral meeting at Akasaka Palace in Tokyo, Japan, Oct. 28. — REUTERS/EVELYN HOCKSTEIN

TOKYO — US President Donald J. Trump lavished praise on Japan’s first female leader Sanae Takaichi in Tokyo on Tuesday, welcoming her pledge to accelerate a military buildup and signing deals on trade and rare earths.

Ms. Takaichi, a protegee of Mr. Trump’s late friend and golfing buddy Japanese leader Shinzo Abe, applauded the President’s push to resolve global conflicts and said she would nominate him for the Nobel Peace Prize, according to Mr. Trump’s spokesperson.

Japan is also expected to offer a package of US investments under a $550-billion deal agreed this year, including shipbuilding, and pledge purchases of US soybeans, gas and pickup trucks, sources familiar with the talks said.

Those gestures may temper any Mr. Trump demands for Tokyo to spend more towards its security in the face of an increasingly assertive China, which Ms. Takaichi sought to head off by promising to fast-track plans to increase defense spending to 2% of gross domestic product.

“Everything I know from Shinzo and others, you will be one of the great prime ministers. I’d also like to congratulate you on being the first woman prime minister. It’s a big deal,” Mr. Trump told Ms. Takaichi as the pair sat down for discussions with their delegations at Tokyo’s Akasaka Palace.

TAKAICHI INVOKES ABE LEGACY
Ms. Takaichi repeatedly referenced Mr. Abe’s affection for Mr. Trump and gifted him his putter enclosed in a glass case, a golf bag signed by Japanese major winner Hideki Matsuyama and a gold-leaf golf ball, according to photos posted on X by Mr. Trump’s assistant Margo Martin.

Mr. Abe, who was assassinated in 2022, was the first foreign leader to meet Mr. Trump after his 2016 election victory and the pair went on to forge a close bond over several rounds of golf in the United States and Japan.

Over a lunch of US rice and beef, and vegetables from Ms. Takaichi’s hometown of Nara, the Japanese leader presented Mr. Trump with a map of major investments Japanese firms have made in the United States since his last visit in 2009.

At least 10 Japanese companies are eyeing more than $400 billion of US investments in areas such as energy and artificial intelligence, which the two governments are set to announce later on Tuesday, public broadcaster NHK reported.

DEAL ON CRITICAL MINERALS SIGNED
Mr. Trump also praised Japan’s efforts to purchase more US defense equipment, while Ms. Takaichi said Mr. Trump’s role in securing ceasefires between Cambodia and Thailand, and Israel and Palestinian militants, were “unprecedented” achievements.

The leaders then signed an agreement to support the supply of critical minerals and rare earths, as the countries seek to wean reliance off China’s chokehold on the materials crucial for a wide range of products from smartphones to fighter jets.

The deal aims to jointly identify projects of interest in areas such as magnets and batteries over the next six months and work together to develop stockpiles of key minerals among other measures.

After lunch, Mr. Trump met with relatives of people abducted by North Korea in the 1960s and 1970s to train its spies and their relatives. While some were later repatriated, Japan continues to press Pyongyang for a full accounting of all the abductees and the return of any who remain alive, a cause championed by Mr. Abe.

“The United States is with them all the way,” Mr. Trump, who has repeatedly said he is open to meeting North Korea’s reclusive leader Kim Jong Un during his Asia visit, told reporters after greeting the families.

The US leader began his five-day visit to Asia in Malaysia on Sunday before traveling to Japan late on Monday and heading straight to the Imperial Palace for a meeting with Japanese Emperor Naruhito.

He hopes to cap off his trip, his longest overseas journey since returning to the White House in January, by agreeing a trade war truce with Chinese leader Xi Jinping in South Korea on Thursday.

VISIT US NAVAL BASE
Ms. Takaichi’s efforts to invoke Mr. Abe’s legacy to forge a bond with Mr. Trump could help bolster her weak political position at home and help her navigate Mr. Trump’s at times erratic decision-making, analysts said.

Though she has seen a surge in public support since becoming prime minister, her coalition government is two votes shy of a majority in parliament’s lower house.

Mr. Trump and Ms. Takaichi will later visit the US naval base in Yokosuka near Tokyo, which is home to the aircraft carrier USS George Washington, part of the US military’s powerful presence in the region.

US Secretary of Defense Pete Hegseth is due to hold talks with his Japanese counterpart Shinjiro Koizumi on Wednesday.

Mr. Trump will meet business leaders in Tokyo later on Tuesday, before traveling on Wednesday to South Korea where he will meet President Lee Jae Myung ahead of his Thursday summit with Mr. Xi. — Reuters

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