How Trump Has Increased Trade Talks In South America

Ever since the U.S. President Donald Trump took office, South America’s efforts has since received fresh air via his nationalist policies to open up its markets to the world, according to Brazil’s foreign minister, Aloysio Nunes. The Mercosur which consists of Argentina, Brazil, Paraguay, Uruguay and Venezuela have planned to launch trade talks with countries such as Canada, India, and possibly South Korea and Japan in the next 18 months. All this while improving in its own excessive bureaucracy.

Nunes had also stated that he expected the European Union and Mercosur to finally come to an agreement, after almost two decades of discussions which begun since 1999. There were also talks about making effort to cut legal framework obstacles and eliminate exemptions to its common external tariffs with the Europeans, this being said in Nunes’ first interview since he took office on March 7, with a foreign media outlet. He also mentioned that these obstacles needed to be removed and things need to be done so that the Mercosur can function as a common market among other things. With the new administration in the US setting trade deals on one side, the members of Mercosur have aligned themselves closer to each other, giving opportunities for both economic and political partnerships to take place.

Aside from this, Trump’s policies may have driven the European Union and China closer through trade. The search for new trade agreements has grown in South America after more liberal governments took over in two of its largest economies, namely Brazil and Argentina. All this while protectionism increased in other parts of the western world.

Meanwhile, while there have been improvements in trade deals, Nunes has waved off suggestions that the fallout from Brazil’s legendary corruption scandal was putting an unfavourable dent to its image in the region. A task force made of prosecutors from 11 countries have been called to investigate bribes paid by the Brazilian firm Odebrecht S.A.

But Nunes, a former freedom fighter, acknowledged that the country’s worst recession on record had slowed down the progress of its ambitions abroad. He added that from an economic point of view, any country which has seen its Gross Domestic Product (GDP) shrink by almost 8 percent in two years is a country that is likely to be influenced rather than be an influencer. However, Brazil is definitely on the road to recovery and international trade has been the main contributor in its return to growth.

On other news, Brazil and other countries of South America are more than open to visitors in attempts to increase its tourism. A visit through a South America Tour is probably a best gauge on how the country is doing on the tourist front.

Share

Comments are closed.

Want help? Email Us Here! Chat With Us Now!

← Prev Step

Thanks for contacting us. We'll get back to you as soon as we can.

Please provide a valid name, email, and question.

Powered by LivelyChat
Powered by LivelyChat Delete History