Brazil and US agree to boost trade and investments to celebrate 200 years of diplomatic relations

Brazil and the United States marked 200 years of diplomatic relations on Sunday, May 26. On this date in 1824 United States recognized Brazil’s independence, signaling the beginning of extensive political, economic, and cultural ties.
In celebration of such an event, Brazil’s Foreign Trade Secretariat of the Ministry of Development, Industry, Commerce, and Services (Secex-MDIC) and the American Chamber of Commerce (Amcham) signed a memorandum in São Paulo with the purpose of conducting an unprecedented mapping of bilateral trade and investments between the two countries.
The study resulting from the partnership will provide detailed analyses of trade in goods and services, tariff structures, non-tariff barriers, and the socio-economic impact of Brazilian exports to the US. The report will include data on remuneration, gender composition, and the significance of trade for various cities and states.
In 2023, trade in goods between Brazil and the US totaled US$75 billion. US remains the second-largest destination for Brazilian exports, trailing China, and the third-largest supplier of foreign products to Brazil, with a 15.8% share of total Brazilian imports. The economic ties in the services and investment sectors are also significant.
Via MercoPress