Brazil last month extended its import quota for US ethanol imports until 10 December. A week later, the US increased the import quota for Brazilian sugar by 80,000 tons/year. Both countries are holding talks on both commodities. On Sunday the US and Brazil agreed to amend a 2011 trade and investment agreement that now includes cooperation on anti-money laundering and regulatory practices. The deal is seen as President Donald Trump’s support to his right-leaning Brazilian counterpart Jair Bolsonaro.
Despite the progress in both countries’ trade relationships, US trade representative (USTR) Robert Lighthizer on Monday said that a broader trade deal with Brazil is unlikely to happen due to lack of support from Democrats in the House of Representatives regardless who wins the next presidential election. Both presidential candidates support trade negotiations, but it will likely face objections from US lawmakers, especially Democrats, which according to Lightizer, are “not fans” of Bolsonaro.
Tags: All Products,AlwaysFree,Americas,Brazil,English,Latin America,USOctober 21, 2020 4:48 PM (GMT+8)