The recent meeting between Luiz Inacio Lula da Silva (PT) and Donald Trump could lead to a relaxation of the tariffs imposed by the US on Brazil, according to JPMorgan.
The bank’s report emphasized that the short encounter between the presidents at the UN General Assembly in New York suggests a possible enhancement in bilateral relations.
The tariffs imposed by the US in mid-September are some of the most severe against its trade partners.
The White House justifies the actions based on political and commercial concerns, such as the legal status of ex-President Jair Bolsonaro and the ongoing inquiry under Section 301 of US trade law.
JPMorgan stated that the brief encounter at the UN suggests a possibility for bettering or stabilizing bilateral relations in the near future, which could lead to lowering certain tariffs.
The report mentions that, despite recent sanctions, the White House has increased the use of geoeconomic tools in the region, including trade barriers and financial assistance like the US$20 billion swap line for Argentina.
In the Brazilian situation, there is anticipation for a well-organized encounter between Lula and Trump, set to take place in October at international gatherings in Italy or Malaysia.
- Economic situation
- Government
- Policy
- Brazil
- Economic situation
- United States of America
- Lula
- Rates are subject to change.
- trump
