In an address to the National Press Club in Canberra on Wednesday, Queensland Premier David Crisafulli laid out his vision for the state to hold the Quadrilateral Security Dialogue, or Quad.
The strategic partnership between Australia, India, Japan and the United States was formed in 2007 as a counterweight to Chinese influence in the Indo-Pacific region.
Mr Crisafulli also views it as a commercial opportunity that would put Queensland on the world stage ahead of the Brisbane Olympic Games in 2032.
The last sitting US president to visit Australia was Barack Obama in 2014.
Asked how President Trump might be persuaded to come to Australia for the summit, Mr Crisafulli said "the US needs that relationship and Queensland needs the US", adding his state was "in the box seat".
He said Queensland had critical minerals the US needed for military hardware and other advanced technologies.
"When you're talking about minerals that might be used for night vision goggles or hard-facing for military equipment, it's big business, but also in terms of security, it's very important," Mr Crisafulli said.
The US was over-reliant on sourcing its minerals from other nations and states that were less politically stable than Australia, he said.
"In some cases, the US is getting up to 90 per cent of these individual minerals from one jurisdiction," Mr Crisafulli said.
"You wouldn't do that in any industry, let alone when you're talking about geopolitical instability and relationships that can fracture.
"I see this as the next wave for Queensland's economy ... I have a view that Queensland is better placed than anywhere else."
Prime Minister Anthony Albanese was strongly supportive of Queensland hosting a future summit and funding had already been apportioned, Mr Crisafulli said.
There have been six Quad summits since 2021 - two in the US, two in Japan and two via video conference.
The last meeting, in September 2024, was held in the US state of Delaware and hosted by then-president Joe Biden.
India is due to host the next summit, with the date yet to be announced.
Australia was in line to host the following event, Mr Crisafulli said, noting Brisbane had previously hosted the G20 in 2014, attended by world leaders including then-president Obama.
Australia withdrew from the Quad in 2008 under Kevin Rudd's Labor government.
The strategic partnership was resumed in 2017 when Australia re-entered under the coalition, then led by Malcolm Turnbull.
The Chinese government has previously issued official diplomatic protests to member nations to oppose the partnership.
