U.S. and Brazil update bilateral deal


U.S. and Brazil update bilateral deal

The U.S. and Brazil have announced an updated trade agreement with a new Protocol to improve trade rules and transparency.

Agricultural trade rules have been updated for greater transparency during port of entry and inspections, and quota requirements.

The updated Protocol is also expected to spur further negotiations on ethanol and sugar trade.

Brazil previously extended its tariff-rate quota for duty-free imports of U.S. ethanol after it expired at the end of August as a sign of goodwill ahead of the November elections.