The US and Brazil are hoping to conclude an agreement on trade rules and transparency this year, including trade facilitation and good regulatory practices.
The decision was made on a 16 April call between the US Trade Representative Robert Lighthizer and Brazil’s Foreign Minister Ernesto Araújo, during which they discussed the implementation of an “ambitious” economic and trade agenda between Brazil and the US, as agreed by Presidents Jair Bolsonaro and Donald Trump at their meeting at Mar-A-Lago, on 7 March.
“This shared vision and the goals established by the two Presidents point towards a transformative and strategic engagement between both countries in their trade and economic partnership,” the USTR said in a statement.
Both countries agreed to accelerate their ongoing trade dialogue under the Brazil-US Commission on Economic and Trade Relations (ATEC), with a view to concluding in 2020 an agreement on trade rules and transparency, including trade facilitation and good regulatory practices.
The two nations also agreed to engage in domestic consultations, consistent with each country’s domestic procedures, to solicit input on how best to expand trade and develop the bilateral economic relationship.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
