Brazilâ€™s agriculture minister expects that rising protectionism in the US will create â€œmany opportunitiesâ€ for his countryâ€™s industry, including increased trade with Mexico.
Mexicoâ€™s representatives will discuss the possibility of importing soybean and beef from Brazil in a meeting with local farmers and industry members later this month, Blairo Maggi said at an event in Sao Paulo.
â€œBrazil is back in the game,â€ said Maggi, whose family owns one of Brazilâ€™s largest soybean companies, Grupo Amaggi. US President Donald Trumpâ€™s decision to exit the Trans-Pacific Partnership is also seen as an opportunity for Brazil to increase agricultural trades with Asian countries, Maggi said.
Brazil is the worldâ€™s biggest shipper of soybeans, coffee, sugar and orange juice. The country is also the largest exporter of beef and chicken and No. 2 for corn. Still, export volumes to Mexico have room to expand. Last year, Brazil shipped 38.6 million metric tons of the oilseed to China and a mere 129,000 tons to Mexico. A majority of Mexicoâ€™s agricultural imports come from the US Mexico, the worldâ€™s third-biggest importer of soybeans, ranks second-largest in corn.
Trump told lawmakers last week he wants to
accelerate renegotiations for the North American Free Trade Agreement while Mexicoâ€™s Economy Minister Ildefonso Guajardo said heâ€™ll start talks as soon as the US is ready.