Two weeks before the U.S. election, the U.S. and Brazil agreed on a bilateral „mini“ trade agreement to facilitate trade, strengthen regulatory practices and fight corruption, but the finest details of the agreement have yet to be disclosed. The pact, the latest in a series of „mini“ trade deals falsified by the Trump administration, follows seven months of negotiations between the United States and Brazil and is coming in as President Trump looks forward to winning trade profits before the November 3 election. But it is not known to what extent the new agreement will stimulate trade between countries, as it is limited. Following the meeting of the two heads of state and government in Mar-a-Lago in March, the office of the U.S. Trade Representative and Brazilian officials announced an acceleration of the U.S. trade dialogue, Economic and Trade Relations Committee (ATEC) and our intention to negotiate an agreement on trade rules and transparency in 2020. , including trade facilitation and good regulatory practices. Nevertheless, the protocol contains important provisions – based primarily on the relevant chapters of the USMCA – that could contribute, in the medium and long term, to facilitating trade between the United States and Brazil: the government has not yet published details of the agreement with Brazil, but it seems even smaller than the agreements signed with China and Japan.
It focuses on facilitating trade or harmonizing the methods used by the two governments to process goods crossing their borders, with the aim of facilitating trade between countries for businesses. It will also reduce regulatory barriers and strengthen rules to root out corruption. „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. At the summit, Pompeo also stressed the need for the United States and Brazil to reduce their dependence on imports from China 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 our two nations on critical objects,“ he said, according to Reuters. The United States and China split this year on coronavirus, trade and Hong Kong. Shortly after a trade agreement was put in place in January, the global pandemic was declared in March, crippling economies around the world and putting pressure on national health systems. The Trump administration has often targeted China because of the virus – which is widely believed to have appeared in Wuhan late last year. It should be noted that the government`s mini-trade agreements, including the most recent ones with Japan and Brazil, have raised serious concerns from Democratic leaders in Congress about the executive`s circumvention of the role of Congress in trade negotiations.