Customs and Trade Law Weekly Snapshot
Here is a recap of the latest customs and international trade law news:
The U.S.-Brazil Trade Agreement is Imminent
On October 5, 2020, Brazil’s Assistant Deputy Minister for Foreign Trade and International Affairs, Yana Dumaresq, stated during an Atlantic Council online panel discussion that a U.S.-Brazil trade agreement that covers trade facilitation, good regulatory practices, and anti-corruption is in legal scrub and the text should be finalized by mid-October. “We hope to have them signed this month,” Dumaresq said. The U.S. Commerce Department’s lead negotiator on this agreement, Joseph Semsar, said that “this is a unique opportunity to get things done that seemed unattainable.” These latest developments are a result of months of negotiations between the two major economies. Trade facilitation Back in April 2020, the U.S. Trade Representative (“USTR”) released a statement describing meetings between Brazilian President Jair Bolsonaro and President Donald Trump and ambitious plans to strengthen trade and economies ties.
Florida’s Top 3 Export Markets
What and Where do Floridians Export?
Exports are big business in the Sunshine State. In 2019, export sales brought $56.3 billion into Florida’s economy. International trade has supported 2.4 million Floridian jobs. Floridians export a wide array of goods all over the world. In 2019, the top export markets for Florida’s goods were Brazil, Canada, and Mexico, respectively. See Chart 1. We will discuss the significance of each of these markets, in turn.