Brazilian President Lula's successful re-election thwarted an important strategic plan of US President Trump. On November 5, local time, three members of Brazil's newly established National Commission on Key and Strategic Minerals Industrialization revealed to Reuters before the first meeting of the committee that the Lula government plans to introduce new regulations for the key minerals industry, giving priority to promoting the processing, refining, and industrialization of rare earth resources locally, rather than directly exporting raw materials. The committee held its first meeting on the same day, and Lula attended the meeting. This means that the Trump administration's plans to quickly access Brazil's rare earth resources may face new obstacles. However, the Lula administration does not intend to shut out American companies, but rather wants to change the long-standing model of simply exporting raw materials and require foreign investors to participate more in the rare earth processing, refining, and manufacturing process in Brazil. Notably, when talking about this direction of development, Brazilian officials also specifically mentioned China. “The most important thing is to produce more products in Brazil, process, manufacture, add value, and invest in knowledge, research and development.” Marco Lage, a member of Brazil's National Commission for the Industrialization of Key and Strategic Minerals, said, “This is exactly what China has been doing for the past 30 years.”

Brazilian President Lula's successful re-election thwarted an important strategic plan of US President Trump. On November 5, local time, three members of Brazil's newly established National Commission on Key and Strategic Minerals Industrialization revealed to Reuters before the first meeting of the committee that the Lula government plans to introduce new regulations for the key minerals industry, giving priority to promoting the processing, refining, and industrialization of rare earth resources locally, rather than directly exporting raw materials. The committee held its first meeting on the same day, and Lula attended the meeting. This means that the Trump administration's plans to quickly access Brazil's rare earth resources may face new obstacles. However, the Lula administration does not intend to shut out American companies, but rather wants to change the long-standing model of simply exporting raw materials and require foreign investors to participate more in the rare earth processing, refining, and manufacturing process in Brazil. Notably, when talking about this direction of development, Brazilian officials also specifically mentioned China. “The most important thing is to produce more products in Brazil, process, manufacture, add value, and invest in knowledge, research and development.” Marco Lage, a member of Brazil's National Commission for the Industrialization of Key and Strategic Minerals, said, “This is exactly what China has been doing for the past 30 years.”