China is trading Brazilian products for US goods.
Since President Jair Bolsonaro salutes the American flag and treats Brazil as a colony of the United States, China felt comfortable exchanging imports; it is reportedly proposing an additional US$30 billion annually in purchases of agricultural products such as soybeans and corn from the United States as part of a bilateral trade agreement; this amount is almost the total that Brazil exported to China in agricultural products last year.
247 - China is negotiating a bilateral agreement with the United States under which it will increase its purchases of American agricultural products by $30 billion.
According to Bloomberg, the proposal would involve items such as soybeans, corn, and wheat, and would be part of a memorandum of understanding related to bilateral trade discussions, according to the publication based on "people familiar with the plan."
"If this volume is announced, it's something very large. From the very first moment this deal emerged, what worries me is the agreement that may come out of it," analyzes Marcos Jank, CEO of the Asia-Brazil Agro Alliance, in an interview with... Globo Rural.
For Jank, the impact on Brazil would be direct. The US$30 billion is equivalent to almost everything Brazil exported to China in agricultural products last year. According to data from the Ministry of Agriculture, sales to the Chinese market totaled US$35,5 billion.