Backfire

The trade war takes a dangerous turn

From Tuomas Malinen on Geopolitics and the Economy.

It looks like the tariff power play of President Trump is backfiring. The situation of the Trump administration also looks to get a lot worse soon, which can have dire consequences for the world.

In the January Black Swan Outlook, we warned that

Greenland, e.g., holds vast deposits of crucial minerals, including the so called rare earth elements, crucial for the digital era. The U.S. military requires several rare earth minerals, but especially metalloid antimony which is needed for, e.g., communication equipment, night vision goggles, explosives, ammunition, nuclear weapons, submarines, warships, optics and laser sighting. China currently produces around 48% of the global supply of antimony, accounting for 63% of U.S. imports of antimony. In December, China announced an export ban on antimony and several other minerals crucial for high-tech products. A vast deposit of antimony was just recently discovered from Greenland.