The United States and Brazil have signed a new protocol on trade rules and transparency, which updates an agreement reached between the two countries in 2011, the Office of the U.S. Trade Representative said on Oct. 19. At the summit, Pompeo also stressed the need for the United States and Brazil to reduce their dependence on Chinese imports for their own security. « To the extent that we can find ways to increase trade between our two countries, we can. reduce the dependence of each of our two nations on critical objects from China, » he said, as reuters reported. Myron Brilliant, executive vice president and head of international affairs at the U.S. Chamber of Commerce, said there is even more to be done when it comes to key priorities, including digital commerce and the provision of express shipping. « We call on both governments to return to the negotiating table as soon as possible. » The deals have allowed the Trump administration to get a number of quick profits and generated quick profits for U.S. farmers, ranchers, lobsters and other sectors that Mr. Trump has tried to support. But they have also drawn criticism from the business community for omitted many sectors of the economy, especially those where trade negotiations tend to be the most difficult. Economic leaders have called on the government to continue negotiating broader trade agreements.
The United States and Brazil have agreed on a limited trade deal that will facilitate trade between countries, strengthen regulatory practices and fight corruption, officials from both countries said Monday. In 2018, Brazil was the United States` 13th largest trading partner in terms of goods. This year, U.S. trade in goods and services with Brazil was $105 billion, with U.S. exports, including fuel and aircraft, totalling $67.8 billion, and imports from Brazil, such as fuel and iron and steel, totalling $37.2 billion. The pact, presented on October 19 at the U.S. Brazil Connect Summit, organized by the American Chamber of Commerce, aims to boost trade between the two nations. The announcement follows a number of other minor trade deals reached by the Trump administration, including Japan and China.