Brazil VP Alckmin says talks with US will be accelerated and work is ongoing, have good expectations there could be a FTA between Mercosur and the UAE

• Want to expand preferential tariffs with India, Mexico and Canada.
• Want progress with US on non-tariff issues including rare earths, big tech and data centres.

Brazil's VP Alckmin is advancing discussions with the US and highlighting expectations for a potential Free Trade Agreement (FTA) between Mercosur and the UAE. This could signal a strategic pivot in trade dynamics, especially as Brazil seeks to strengthen preferential tariffs with other key partners. The emphasis on non-tariff issues indicates a broader agenda that may influence supply chains and tech collaborations, potentially impacting commodities and currencies tied to these economies.