"Trump is jealous of the Chinese", says Lula about rare earths
During a ministerial meeting held this Friday (10), President Luiz Inácio Lula da Silva (PT) stated that American President Donald Trump is "envious" of China in relation to its dominance over rare earths and critical minerals. The statement was made at a meeting dedicated to discussing Brazilian potential in this strategic sector. CNN Politics analyst Julliana Lopes comments on the matter
China is the country with the world's largest reserves of these minerals and has absolute control of more than 90% of the global market, dominating not only the extraction but also the refining of these resources. This dominance has become a powerful political and economic asset in relations between Beijing and Washington.
Lula's speech at the ministerial meeting
In his statements during the meeting, Lula expressed surprise at the level of technical knowledge gathered at the table. "I'm amazed to see how much knowledge about critical minerals and rare earths is around this table," he said.
"I honestly thought we were almost illiterate on this subject." Lula also highlighted what he called China's "obsession" with leading the sector and Trump's "envy" of this knowledge.
Brazil still struggles in regulating the sector
CNN Politics analyst Julliana Lopes drew attention to the obstacles faced by Brazil in this area. According to her, while China has already made progress in regulating the sector, Brazil is still discussing the issue late in the National Congress.
"The project that is there has not gone ahead yet", he stated. The analyst also mentioned a controversial negotiation involving the sale of a company in the sector in Goiás and pointed out that investors see this slowness as a delay, as the country could be negotiating critical minerals at another level given the pressure exerted by the United States.
The analyst also highlighted the political moment in which Lula's statement was made. Palácio do Planalto is closely following ongoing negotiations in the United States on tariffs that could affect Brazilian products.
In this context, Lula would have retreated from more direct criticism of Trump in recent days, opting for a milder tone - but still sustaining the comparison with China. "It's a statement that draws a lot of attention at this time when Brazil is in this specific negotiation", said Julliana Lopes.
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Source: CNN