Brazil posted a trade surplus of US$ 4.99 billion in March, the Economy Ministry said, significantly smaller than the same month a year ago thanks to a strong rise in imports. The trade surplus last month fell 22.3% to US$ 4.99 billion from US$ 6.42 billion a year ago, although that was up more than a third from February’s surplus of US$ 3.67 billion.
The US trade deficit widened sharply in December as slowing global demand and a strong dollar weighed on exports, another sign that economic growth slowed in the fourth quarter. Other data from the Commerce Department on Wednesday showed new orders for US-made goods barely rose in December and business spending on equipment was much weaker than previously thought, pointing to a softening in manufacturing activity.
Export sales by Brazilian meat processors lagged last year as trade bans and a domestic truckers’ strike weighed on their ability to serve major customers like Russia and the European Union, according to data released by trade group ABPA.
United States has refrained from labeling China a currency manipulator in a move which may help defuse escalating tension over trade between the two countries. President Trump has previously accused China of keeping its currency weak to make its exports more competitive.
China on Wednesday unveiled plans to cut tariffs for products including machinery, electrical equipment and textile products beginning on Nov. 1, as the country braces for an escalating trade war with the United States.
United States president Donald Trump escalated his trade war with Beijing, imposing 10% tariffs on about US$ 200 billion worth of imports in a move one senior Chinese regulator said “poisoned” the atmosphere for negotiations.
Japan is planning to lift a ban on beef imports from Uruguay next year, ending a more than 17-year embargo following the outbreak of foot-and-mouth disease in the South American nation in 2000, according to government sources in Tokyo.