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LatinNews Daily - 04 May 2020

USMCA ratification process completed

Brazil: On 29 April US Secretary of State Michael Pompeo spoke by telephone with Brazil’s foreign minister, Ernesto Araújo. According to a press release by the US Department of State, Pompeo and Araújo discussed the importance of “a coordinated response” to combat the coronavirus (Covid-19) pandemic through “increased production of medical supplies in the Americas and enhanced cooperation on therapy and vaccine development”. According to the statement, the two also “discussed ways to intensify the economic and security partnerships between our two countries, including progress towards shared goals such as increased trade and digital security”. Two days earlier, over 25 leading business organisations from the US and Brazil, including  the US Chamber of Commerce, the Brazil-US Business Council, the American Chamber of Commerce for Brazil and Brazil’s national industry confederation, revealed that they had sent a letter to the governments of both countries the previous week supporting their commitment to securing the first phase of a comprehensive bilateral trade agreement in 2020. This followed a joint statement by Presidents Donald Trump and Jair Bolsonaro issued on 7 March announcing that they had instructed their trade officials to deepen discussions for a bilateral trade package this year.

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