In the last few weeks, the global trade of rare earth elements (RRE) has become a hot topic and a retaliation device for China to counter the US Administration’s new tariffs. Beijing has halted its exports entirely to retaliate against President Trump’s trade policies. As a result of the tariff shock, the country is looking to set up a new system of special rare earths export licenses for any country, not just the US. But what exactly are rare earth elements, and why are they such an important part of trade agreements?