WASHINGTON, D.C. – The U.S. Chamber of Commerce’s Brazil-U.S. Business Council formally released the results of a trade study it conducted assessing the impact of a U.S.-Brazil trade agreement on the U.S economy. The study results show that a trade agreement, once fully implemented, would have a positive impact on the U.S. economy, increasing national income, bilateral trade, wages and employment.
“The commercial relationship the United States and Brazil have enjoyed over the last decade is deep and broad and a U.S.-Brazil trade agreement would realize the full economic potential of this relationship,” said Myron Brilliant, executive vice president and head of International Affairs at the U.S. Chamber of Commerce. “This is not a short-term objective, but it’s important our two governments understand the benefits associated with expanding commercial ties through a trade negotiation.”
The Brazil-U.S. Business Council and its member companies believe that negotiating and implementing a comprehensive trade agreement that enhances trade and investment between the two countries is one way to grow the U.S.-Brazil economic partnership in the long term.
“We are optimistic the information presented by the trade study will be of value to the business community and the U.S. government, and will help move us closer toward an agreement that will generate job growth, increase household incomes and nearly double our U.S. exports to Brazil, as the study showed,” noted Cassia Carvalho, executive director of the Council. “We hope the study’s results will be a constructive tool for bilateral government and private sector dialogues, with the goal of deepening U.S.-Brazil relations and paving the way toward a comprehensive trade agreement.”
The study concludes that while the impacts at the sector level vary for a variety of reasons, overall, such an agreement would have a beneficial impact on the U.S. economy.
“The private sector welcomes the reduction of barriers that would help boost trade and investment,” explained Tim Glenn, president of DuPont Crop Protection and chairman of the Council’s Trade Task Force. “It is time for the Brazilian and U.S. governments to begin a dialogue on a trade agreement that eliminates tariffs and reduces non-tariff barriers, which would have a net positive impact on the U.S. economy, consumer spending, bilateral as well as total exports and imports, employment and wages.”
An executive summary of the report can be found here.
The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors and regions, as well as state and local chambers and industry associations. Its International Affairs division includes more than 70 regional and policy experts and 25 country- and region-specific business councils and initiatives. The U.S. Chamber also works closely with 117 American Chambers of Commerce abroad.
The Brazil-U.S. Business Council is the premier business advocacy organization dedicated to strengthening the economic and commercial relationship between the two countries. The Council represents major U.S. companies invested in Brazil and operates under the administrative aegis of the U.S. Chamber of Commerce, maintaining independent policy formulation and membership.