Brazil: Ending One Trade Deal Opens the Door to Another

Brazil seeks to reduce certain trade barriers by ending a four-decade old maritime trade transportation agreement with Chile. The Brazilian government will hold a meeting July 25 to evaluate the timeline of terminating the agreement (which only a presidential decree can end). The agreement stipulates that only one company from Brazil and one from Chile are responsible for the maritime trade transportation between both countries. The end of this maritime transportation monopoly would help Brazil accommodate the European Union's interests in the trade negotiations with the Common Market of the South, or Mercosur, as well as reduce Brazil’s maritime transportation cost....