United States And Brazil Signed The Agreement On Trade And Economic Cooperation

Today`s agreement will help all traders who are looking for simpler customs procedures, more opportunities to participate in rule-making and more confidence in market rules. Looking to the future, the protocol is proof that Brazil and the United States are succeeding in deepening their trade relations in a way that benefits both countries. The USTR said the United States and Brazil would “continue to look for ways to increase trade in goods and services and promote new investment.” The United States engages with Brazil on trade and investment issues through a series of initiatives. He said the new protocol took advantage of the existing 2011 Trade and Economic Cooperation Agreement (ATEC) to establish common standards “that will provide a solid basis for closer economic relations between our two countries.” Following the presentation of the new protocol by the USTR, The Chairman of the Trade Subcommittee of the House Ways and Means Committee, Earl Blumenauer, D-Ore. issued a statement in which he highlighted concerns about the Brazilian government: “President Jair Bolsonaro`s abysmal record on human rights, the environment and corruption is the reason why the Ways and Means Committee Democrats have long opposed a trade agreement or an extensive economic partnership with Brazil.” The agreement is the latest concrete result of the close relationship between Brazil and the United States and the leaders of President Trump and President Bolsonaro. The United States recorded a service surplus of $18 billion with Brazil in 2019, down 11.6% from 2018. 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. During its meeting in Sao Paulo, the delegation also met with FIESP President Paulo Skaf, as well as the leaders of FIESP and Amcham Brasil, and participated in a video conference with Brazilian business leaders to establish relations between Brazil and the United States on relevant economic and trade issues, such as facilitating trade and expanding bilateral trade and investments that create greater economic prosperity for two countries. , to delve deeper. The protocol, also announced by Brazilian President Jair Bolsonaro, contains new annexes with provisions on customs administration and trade facilitation, regulatory practices and the fight against corruption, the USTR said in a statement.