Critical Materials 

Paid subscribers can access the full report

Introduction

OVER THE LAST three or four years, there has been a growing interest in the materials crucial for running a modern economy. For most countries, the key driver of this interest has been the concern that one nation – China – has carved out a dominant, often monopolistic position in the supply of many of these materials.

In particular, the arrival of the Trump administration in the US at the start of 2025 supercharged the political urgency of breaking this Chinese stranglehold. It also brought a shift from globalisation towards bilateral negotiation: this will impact trade in critical materials just as it does in everything else. The terms ‘critical materials’ and ‘critical minerals’ are usually used interchangeably. As discussed below, the European Union (EU) defines a list of ‘critical raw materials’, while the equivalent in the US and UK is termed ‘critical mineral’ lists. These lists contain individual elements (such as...

To receive the full report register now as a paid subscriber