Economy & Business - April 2025

REGION | Southern Cone countries shore up international ties. As President Donald Trump has doubled down on his protectionist tariffs policy in the US, South American leaders have been looking to deepen trade partnerships with other countries. Chile’s President Gabriel Boric made a state visit to India between 1-5 April, during which he and India’s Prime Minister Narendra Modi announced the start of negotiations for a comprehensive economic partnership agreement (Cepa), to build on the 2017 free trade agreement between the two countries. Agreements were also reached on collaboration in technology and mining for critical minerals. Meanwhile, Brazil’s President Luiz Inácio Lula da Silva travelled to Japan and Vietnam between 24-30 March, when he notably discussed the opening of these Asian markets to Brazilian beef. In Japan, Lula signed a series of agreements on collaboration in areas spanning sustainable land use, digital inclusion, disaster risk reduction, and academic research, among others. Lula also pledged to work towards a free trade agreement between Japan and the Southern Common Market (Mercosur). Similar agreements and pledges were made in Vietnam. Currently, Singapore is the only Asian nation with which Mercosur – which comprises Brazil, Argentina, Paraguay, Uruguay, and Bolivia – has a free-trade agreement.

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