The US is seeking agreements with eight allied nations to work together to secure supply chains for the computer chips and critical minerals needed for AI. The US will host a meeting at the White House on Dec. 12 with representatives from Japan, South Korea, Singapore, the Netherlands, the UK, Israel, the United Arab Emirates and Australia
Europe has a cautionary tale for countries looking to change their energy mix. In its rush to lead the green energy transition, it has succeeded in reducing carbon emissions an impressive 30% but it has also been extremely costly for consumers and damaging for the economy. Germany leads the world in residential electricity prices while the U.K. has the highest industrial electricity rates. Energy prices have grown more volatile as more renewables have been introduced on the grid. The result is a staggering cost of living and an inability to attract key economic drivers to the region.
Finally, following a great deal of back and forth between the US and China, we're seeing progress on the rare earths front. China has issued the first batch of new rare earth export licenses that should accelerate shipments to certain customers. That should be welcome news to manufacturers around the world who, for now, still significantly depend on sourcing from China.
