New Delhi, Aug. 4 -- DON'T PUT all your eggs in one basket. That was the lesson learned by the world's AIDS establishment on January 20th 2025. Since 2011 America's share of foreign aid aimed at combating the epidemic had risen from 58% to 81%. So when Donald Trump changed the rules of engagement, the result was a chaos of shuttered clinics, shattered drug-supply chains and suddenly resourceless support groups.

The dust has now settled. The task ahead is for activists, bureaucrats, doctors, politicians and researchers to make the best of the new reality. They have tools: in particular, a pipeline of promising drugs. They have a clear steer from America's government about how it sees the future. And they also have some early but intriguin...