Bloomberg Says Brazil and China Close to FTA

NEW YORK CITY, NY – As the United States is working to fill administration positions in anticipation of a Presidential transition in January, Brazil has been on the phone with China working on a massive free trade agreement.

According to Bloomberg, the Brazilian agreement is moving along the same path as the Phase One Trade Deal with the U.S., slow and in steps.

Talks between negotiators on both sides of the Pacific Ocean have the South American country working through many technical barriers and issues.

The news organization explains that China will need to boost grain purchases in 2021 to feed a hog herd that has exploded following 18 months of devastation brought on by the discovery of African Swine Fever (ASF) in China.

Brazil is a major competitor with the U.S. in corn, cotton, soybeans, and cattle. The recent Phase One agreement with the U.S. provides for an aggressive purchasing plan for agricultural products.
(SOURCE: All Ag News)