The Minister of Economy, Paulo Guedes, announced on Aug 1st that Brazil and the United States have begun negotiations for a trade agreement. Discussions between the two countries were initiated during a hearing with the US Secretary of Commerce, Wilbur Ross. According to the Minister of Economy, this is an opportunity for Brazil to increase its degree of integration into the global economy.
The elaboration of a trade agreement between the countries, according to Guedes and Marcos Troyjo, Special Secretary of Foreign Trade and International Affairs, is an orientation from the Presidents of both countries, who would like Brazil and the United States to have a closer relationship and to integrate their economies.
The Special Secretary of Foreign Trade and International Affairs also stated that since Brazil is part of a customs union, an agreement involving tariffs must include the presence of the other members of Mercosur. If the agreement focuses on other commercial aspects, it may be bilateral between Brazil and the United States. Both scenarios would be the subject of the negotiation process.
