It’s an irony that the minerals needed to save the planet may help destroy it. Rare earth elements, the mineral backbones of wind turbines and electric vehicles, are now the prize in a geopolitical arms race. The trade agreement between Washington and Beijing restores rare earth shipments from China to the US, which had been suspended in retaliation against Donald Trump’s tariffs. Behind the bluster, there has been a realisation in Washington that these are critical inputs for the US. They are needed not just by American icons such as Ford and Boeing but for its fighter jets, missile guidance systems and satellite communications.

This understanding suggests that Washington will scale back some of its countermeasures once Beijing resumes delivery of rare earths. The paradox is that to reduce its dependence on China, the US must depend on Beijing a little longer. This is not yet decoupling; it’s

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