Year in a word: Rare earths
These metals have become the plaything of the US-China trade war
These metals have become the plaything of the US-China trade war

Beijing’s tight export controls on critical minerals have strained relations with US and EU

Trump administration plans to set price floors, create strategic minerals reserve and take equity stakes

Companies with financial ties to Trump administration figures win major funding deals in push for crucial metals

Extensive licensing requirements raise concerns about intellectual property theft

The American military and Europe’s green transition both rely on critical minerals from Beijing

Beijing determined to retain leverage over supply by preventing buyers from building large inventories