Brazil Trade Agreement 2019

The EU encourages Brazil to remove tariff and non-tariff barriers and promote a stable and more open regulatory environment for European investors and traders. The United States recorded a service surplus of $18 billion with Brazil in 2019, down 11.6% from 2018. In 2019, Brazil was the 9th largest export market for goods in the United States. ATEC engages in a wide range of trade and investment issues. As the United States and Brazil implement today`s protocol, they will continue to look for ways to increase trade in goods and services and promote new investment. Brazil is one of the countries that, according to the latest European Commission report, has resorted to a large number of potentially restrictive measures. U.S. services exports to Brazil were estimated at $24.6 billion in 2019, 8.4% ($2.2 billion) lower than in 2018, but 81.0% lower than in 2009. The Brazilian government believes that, in the case of tariffs, the agreement with the Americans may have to be reached in conjunction with the South American bloc, since Brazil is a member of that Union. „From their first meeting, President Trump and President Bolsonaro shared a vision of a partnership for prosperity between the United States and Brazil and a desire for new trade initiatives. Today`s protocol uses the existing ATEC to establish common standards for both countries for effective customs procedures, transparent regulatory development and a robust anti-corruption policy that will provide a solid basis for closer economic relations between our two countries,“ said Ambassador Robert Lighthizer. In 2019, total agricultural imports from Brazil totaled $3.3 billion, our 8th largest supplier of agricultural imports. Key categories include: unroasted coffee ($1.0 billion), fruit and vegetable juices (US$378 million), red meat, prepared or preserved (US$326 million), tobacco (US$221 million) and essential oils ($122 million).

The U.S. trade surplus with Brazil was $12.0 billion in 2019, an increase of 46.6% ($3.8 billion) over 2018. The project will then focus on a study on fair and fair trade in Brazil and will hold a second forum in December 2018. „It is important not to put obstacles to a free trade agreement between the United States and Brazil that could be unintentionally mentioned in the Mercosur-EU deal,“ Ross told reporters in Sao Paulo.