Daniel Carvalho and Eric Martin
Today 14:08
President Joe Biden’s top trade negotiator has suggested that Brazil should consider the risks of joining China’s Belt and Road Initiative before making final decisions on major infrastructure projects in Asia.
Speaking at the Bloomberg New Economy Forum at the B20 Forum in São Paulo, U.S. Trade Representative Katherine Tai said, “I urge you to look at the risks of the current economy through a lens of objectivity, a lens of risk management.” I will recommend it to my friends in Brazil.” and “to seriously consider the best path to achieving greater resilience for Brazil’s economy.”
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Tai said in an interview Wednesday with Stephanie Flanders, head of economics and government at Bloomberg, that the final decision is up to Brazil’s government and that sovereignty is an aspect the U.S. government seeks to preserve in the global economy.
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Late Tuesday, Brazil’s Agriculture Minister Carlos Favaro said Latin America’s largest country should join China’s Belt and Road Initiative to counter U.S. protectionist measures.
The United States is competing with China for economic influence in Latin America. The Asian giants are major trading partners for countries such as Brazil, Chile and Peru, and have monopolized the region’s natural resources such as soybeans, iron ore and copper, while increasing investment in local infrastructure.
Chinese President Xi Jinping will visit Latin America next month, immediately after the US election. He will open a mega-port near Lima, Peru, travel to Brazil to attend the G20 summit and make a state visit with his counterpart Luiz Inacio Lula da Silva.
Tai will begin a multi-day visit to Brazil, where he will attend the G20 Trade and Investment Ministers’ Meeting in Brasilia. Latin American priorities also include Mexico, where new reforms such as reforming the judiciary and changes to autonomous body rules are attracting the attention of the world’s largest economy.
negotiations with mexico
Looking ahead, his office will conduct a review of the Mexico-United States-Canada Agreement (T-MEC). Asked about the review on Wednesday, Tai did not go into detail about what the process would look like, but said: “The purpose of that review is for us to take advantage of it.” .
“There’s a lot going on ahead when it comes to our work with Mexico, and I think a lot of it is very positive,” said Roberts, who spent most of his career in public service shaping U.S. trade law, negotiations and strategy. Mr. Tai, who has spent a lot of time, said. Regarding agreements involving T-MEC.
Still, Tai said the U.S. is seeing “potentially concerning developments in the acquisition of Chinese companies in Mexico to build factories.”
An important question to ask regarding the challenge of China’s economic status in the world is the “very ambiguous and often opaque relationship between states and economic actors, and the question of understanding that relationship and trust in China.” It is about “trying to reach.” “An increasingly tense geopolitical world,” he noted.
The B20 New Economy is organized by Bloomberg Media Group, a division of Bloomberg LP, the parent company of Bloomberg News.
Translated by Paulina Munita.
