Economic bomb

According to *The Nikkei*, during the Japan-U.S. summit held on March 19 (local time), Japanese Prime Minister Sanae Takaichi and U.S. President Donald Trump signed a memorandum of cooperation regarding the joint development of rare earth elements in the waters surrounding Minamitorishima. Moving forward, the governments of Japan and the United States will establish a working group on deep-sea mineral resource development—including rare earth extraction—to ensure a stable future supply of critical mineral resources. This cooperative effort between Japan and the U.S. regarding rare earths is no mere coincidence; rather, it represents the convergence of Japan’s long-standing “de-Sinicization” strategy and the “economic security first” diplomatic approach characteristic of the “Trump 2.0” era. However, the extreme environmental conditions, exorbitant costs, and ecological risks associated with deep-sea rare earth mining will undoubtedly subject this Japan-U.S. partnership to numerous challenges.