The factories of the future will not operate on slogans or tariffs; they will rely on copper, nickel, lithium, rare earths and reliable energy. Securing these inputs is not optional.
After dominating India’s crude imports since 2023, Russian supplies slowed amid US sanctions, but a 30-day ‘waiver’ amid West Asia tensions could now push flows back towards 2 mbpd.
Trump has ushered in the age of humiliation. His method is to push around America’s friends rudely and publicly. He knows none of them can afford to fight back.
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