China exported 6,745 tons of rare-earth products in December, down from 6,958 tons in November, according to customs data released Sunday. Beijing has introduced tighter controls on shipments with potential military use that mainly affect Japan, while the U.S., G7 finance ministers and partners met in Washington to discuss reducing dependence on Chinese rare earths and supporting alternative supply chains.

On January 18, 2026, Donald Trump denied ever offering the Federal Reserve chair role to Jamie Dimon and said Dimon is unfit for the job. He also said he will sue JPMorgan within two weeks over alleged political debanking after January 6, as bank shares slid, with JPMorgan down around 5% over the last week.

On Saturday, Donald Trump announced that imports from eight NATO countries will face a 10% tariff from February 1, rising to 25% by June 1, unless they agree to sell Greenland to the United States. The move targets Denmark, Norway, Sweden, France, Germany, the U.K., the Netherlands, and Finland, and is linked by Trump to their troop deployments in Greenland. European leaders and U.S. senators have pushed back, warning the tariffs risk damaging Western unity and stressing there is no imminent security threat to the island.

On January 17, 2026, Prime Minister Mark Carney advanced a Canadian auto production bill aimed at countering U.S. tariff pressure and retaining local manufacturing. The plan links a China trade arrangement to a quota of 49,000 EVs at a 6% tariff, includes a C$35,000 price-cap segment, and is set for a February rollout by Industry Minister Melanie Joly.

Global equity markets are trading at elevated valuations, with the MSCI World Index at 20 times forward earnings while Q4 results start to roll in. Investors are relying on strong profit growth from AI leaders, banks, consumer goods firms, and defense contractors to justify last year's rally and avoid renewed volatility. At the same time, shifting tariffs, oil supply threats, and surging defense spending are adding fresh uncertainty across regions.

OpenAI has locked in $10 billion of chip and cloud commitments, including a $10 billion agreement with Cerebras in November. In September Nvidia pledged $100 billion for 10 gigawatts of systems and Broadcom followed with another 10 gigawatts of custom XPUs, while Amazon and Google's in-house chips are not being used. Intel remains behind after unveiling Crescent Island in October with sampling slated for late 2026.

By the end of 2025, assets tied to metal and mining ETFs worldwide exceeded $750 billion, with precious metals driving most of the expansion. Gold ETFs held over $500 billion and silver ETF assets tripled to about $75 billion, while NYSE Arca and London together hosted roughly three-quarters of sector ETF capital. ETF structures and listing venues are reshaping capital flows and the physical supply–demand balance for key metals.

As of January 17, 2026, U.S. officials, tech firms, and miners are focusing on Greenland's rare earths, lithium, and graphite for AI, defense, and electronics supply chains. A bipartisan bill last week seeks a $2.5 billion rare earths reserve, while a July Department of Defense–MP Materials deal and fresh remarks by top leaders highlight the push.

The Trump administration has intensified its confrontation with the Federal Reserve by supporting a criminal investigation into chair Jerome "Jay" Powell over a $2.5bn headquarters renovation, raising fears of political interference in U.S. monetary policy. Markets have so far remained stable as investors expect the Fed to resist demands for rapid rate cuts, while Republican lawmakers, global central bankers, and Wall Street figures rally in defence of the Fed's independence. The widening backlash is complicating Trump's plans to reshape the central bank as Powell's term as chair nears its end.