WASHINGTON: President Donald Trump on Tuesday said his administration is working on a free-trade agreement with Brazil, to cement closer ties between the two the largest economies in the Western Hemisphere.
“We are going to work on a free-trade agreement with Brazil. Brazil is a big trading partner. Other than that, we love the relationship,” Trump told reporters at the White House.
Brazilian President Jair Bolsonaro on Wednesday is scheduled to host US Commerce Secretary Wilbur Ross in Brasilia.
“I have a great relationship with Brazil. I have a fantastic relationship with your president,” Trump said of the Brazilian leader, adding that “They call him the Trump of Brazil. I like that.”
Far-right Bolsonaro is part of a populist wave that has swept the Americas, Britain and Europe in recent years, making him a kindred spirit with Trump.
With about $70 billion in two-way annual goods exchanges between the two nations, the United States typically enjoys a robust trade surplus with Brazil
Major US exports include agriculture goods such as wheat and animal feeds as well as information and telecommunications services.
Imports include aircraft, fuels, coffee and meat as well as iron and steel.
In 2011, the two countries signed an agreement on trade and economic cooperation to ease commercial exchanges