WASHINGTON — The United States and Brazil have reached an agreement on a limited trade deal that will facilitate commerce between the countries, strengthen regulatory practices and crack down on corruption, officials from the two countries announced Monday.
The pact, the latest in a series of “mini” trade deals inked by the Trump administration, follows seven months of negotiations between the United States and Brazil, and comes as President Trump is eager to rack up trade wins ahead of the Nov. 3 election. But it’s unclear how much the new deal will boost trade between the countries, given its limited scope.
Speaking from an event hosted by the U.S. Chamber of Commerce on Monday, President Jair Bolsonaro of Brazil said the deal would open “a new chapter” in the relationship between the two countries. He said that Brazilian and U.S. officials had completed negotiations “in record time” on a package that would “slash red tape and bring about even more growth to our bilateral trade.”
Brazil was the United States’ 11th-largest trading partner in goods in 2018. That year, the United States exported $67.8 billion of goods and services to Brazil, including fuel, aircraft, machinery and chemicals, and imported $37.2 billion, including fuel, steel and aircraft.
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