The Council urges both governments to open a dialogue on a potential trade agreement. While the U.S.-Brazil trade relationship is significant, it could be expanded further to benefit the U.S. and Brazilian economies through an agreement that reduces tariffs and non-tariff barriers to trade.
To support this policy priority, the Council and its partners, the National Confederation of Industry (CNI) and Amcham Brasil, launched a trade agreement campaign based on two studies and a joint report.
The Council in 2016 conducted a comprehensive study¹ in collaboration with Trade Partnership Worldwide, LLC to assess the economic impact of a trade agreement on U.S. industry. The infographic features key takeaways from the Council study on the effect of a U.S.-Brazil trade agreement on the U.S. economy.
The study shows that a U.S.-Brazil trade agreement would have a net positive impact on U.S. GDP ($24 billion growth), national income ($30 billion growth), exports to Brazil ($62 billion), imports from Brazil ($7.1 billion), wages (0.11% increase), and employment (100,000 jobs).
A similar study² commissioned by Amcham Brasil concludes that a U.S.-Brazil trade agreement would have a net positive impact on Brazil GDP ($38 billion), exports ($25 billion), and imports ($28 billion).
During the 34th Annual Plenary in Brasilia in December 2016, the U.S. Chamber of Commerce, the Council, CNI, and AmCham Brasil released a joint report on the effects of a bilateral trade agreement. The report, A Roadmap to an Enhanced Economic Partnership, recommends measures to reduce trade barriers, especially non-tariff barriers, while moving closer to regulatory convergence.
Alongside CNI and Amcham Brasil, the Council plans to disseminate the joint trade report in both Brazil and the U.S. in 2017 and 2018. The campaign will also reach out to the U.S. and Brazilian governments, including Congress and the executive branch. The Council will engage the Congressional Brazil Caucus of the U.S. Congress and the Brazil-U.S. Parliamentary Group of the Brazilian Congress in unveiling the joint trade report.
The studies and the joint report demonstrate why Brazil should be next on the U.S.’ trade dialogue priority list. With renewed energy on Brazil and U.S. relations, it is time to define a bold bilateral agenda with a roadmap toward the future.
1. Brazil-U.S. Business Council (2016) and Trade Partnership Worldwide, LLC, Impact of a U.S. Trade Agreement on the U.S. Economy.
2. AmCham Brasil and FGV EESP (2016), Alternativas do Brasil, 2016. BUSBC, Impact of A U.S.-Brazil Trade Agreement.More Testimonials