BUSINESS

Trump criticized the trade policy of India and Brazil

US President Donald Trump criticized Indian and Brazilian trade tactics, describing them as the toughest possible in the world in terms of protectionism.

Speaking to reporters at the White House on the occasion of a renewed trade deal between the United States, Mexico and Canada, Trump added India and Brazil to a growing list of countries that, he said, use unfair trading tactics.

He noted that India charges huge duties when America delivers goods to India. He added that he raised this issue in a conversation with Indian Prime Minister Narendra Modi, who, according to him, is going to significantly reduce fees.

According to Trump, Brazil is another such country. He claims that Brazil’s trading tactics are one of the toughest in the world. After Trump’s comments, Brazil’s Foreign Trade Minister Abrao Neto described relations with the United States as very positive. He added that in the last 10 years, the United States had a surplus of trade in goods with Brazil in the amount of $0 billion, a surplus in trade in goods and services in the amount of $250 billion.

Neto noted that the United States is the second largest trading partner of Brazil after China, and that there are complementary and strategic trade relations between the two countries that can nevertheless be improved.

Earlier, the United States, Canada and Mexico reached a tripartite trade agreement, which will now be called the USMCA instead of NAFTA (North American Free Trade Agreement – NAFTA).

According to the Minister of Economy of Mexico, Ildefonso Guajardo, it is planned that the new trade agreement will be signed by the heads of the three states on November 29 in Buenos Aires, Argentina, within the framework of the G-20 meeting.

 

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