FTA Would Boost Trade between U.S. and Brazil, Says U.S. Chamber Study
A U.S.-Brazil free trade agreement would increase bilateral trade and could grow the economic partnership between the two countries in the long term, according to the executive summary of a study released Jan. 28 by the U.S. Chamber of Commerce’s…
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Brazil-U.S. Business Council (here). Trade barriers in Brazil are particularly high for tobacco, imported beverages, motor vehicles, processed foods, apparel, leather, and agriculture, forestry and fishery products, the summary states. The study concluded that such an FTA would boost U.S. GDP by $24 billion, increase U.S. exports to Brazil by 78 percent and world exports by over 1 percent, and raise U.S. imports from Brazil by about 21 percent. “Despite its current challenges, we remain bullish about the future of Brazil and its role in the region and global economy,” Cassia Carvalho, executive director of the Brazil-U.S. Business Council’s U.S. Section, wrote in a letter accompanying the summary. “With the renewed Brazil and U.S. relations, the moment is now to define a bold bilateral agenda with a roadmap toward the future.”