International Relations

The Presidents of the United States and Brazil convened for a meeting at the ASEAN Summit in Kuala Lumpur, which Brazil described as constructive. This meeting aimed to address the heightened tariffs imposed by the US on Brazilian goods.

Meeting Outcomes

The meeting between the two leaders resulted in an agreement for their respective negotiating teams to engage immediately. The objective is to resolve issues related to tariffs and other sanctions against Brazilian authorities. The US tariffs were previously increased to 50 percent from 10 percent, affecting a wide range of Brazilian exports.

Negotiation Plans

Brazilian Foreign Minister Mauro Vieira announced that negotiations would begin promptly, with Brazil requesting a suspension of tariffs during the discussions. The goal is to finalize bilateral negotiations within a few weeks, targeting specific sectors affected by the US tariffs.

Wider Implications

The increased tariffs have influenced global trade dynamics, notably in the beef industry, where prices have risen in the US. Brazilian exports to China have surged as a result. Additionally, Brazil has offered to mediate between the US and Venezuela amidst ongoing tensions.

For further details, visit the following links:

• Is Donald Trump trying to dial back tensions with Brazil?
• Brazil’s beef exports to China surge as Trump’s tariffs shift global demand
• Why US soya bean farmers are upset with Trump’s $20bn Argentina bailout