LatinNews Daily - 28 July 2026

*Brazil’s President Luiz Inácio Lula da Silva has hosted his South Korean counterpart Lee Jae-Myung in Brasília, where they announced plans to create a working group with the aim of advancing the negotiations for a trade agreement between South Korea and the Mercosur regional trade bloc. Other bilateral agreements signed during Lee’s state visit include a memorandum of understanding to boost cooperation on space research, as well as deals to promote cooperation between universities and research in the industrial sector. The previous day, on 26 July, Lula also held a phone call with China’s President Xi Jinping in which they also discussed the potential for a China-Mercosur trade deal. The efforts by Lula to deepen relations with trade partners in Asia comes amid heightened tensions with the US government of President Donald Trump, which has recently imposed tariffs on Brazil due to claims relating to unfair trade practices and forced labour. Yesterday the Brazilian government reiterated its criticisms of the new US tariffs and submitted a request for consultations under the framework of the World Trade Organization (WTO) dispute resolution system.

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