Brazil also holding trade talks with China

Brazil and China are looking to hold the first high-level political and economic talks they’ve had since 2015. A Reuters article says Brazil’s agricultural trade secretary expects the move will boost farm trade between the two countries. Reuters says the first meeting of the China-Brazil High-Level Coordination and Cooperation Committee is expected during the second half of this year. The meeting will likely move talks forward on permitting more Brazilian meatpackers to export to China. It should also accelerate Chinese approval of genetically modified products. China is Brazil’s largest trading partner and the top importer of Brazilian soybeans. Brazil exports to China totaled $64.2 billion last year, a 35 percent jump year-over-year, thanks in large part to the trade war between China and the U.S. China recently sent a delegation to Brazil to visit factories that produce beef, poultry, and donkey. The visual inspection is the first step in the process of allowing more Brazilian plants to export to China. Brazil has products that have been waiting two years for Chinese officials to approve them for importing.

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