Agreement On Trade And Economic Cooperation (Atec)

But a comprehensive free trade agreement between nations is unlikely in the near future, Lighthizer said at a virtual event organized this week by the U.S. Chamber of Commerce. “The reality is that there is currently no support for a free trade agreement within the Democratic Party in the United States,” he noted. On 19 October 2020, the United States and Brazil agreed on an updated protocol for the 2011 Trade and Economic Cooperation Agreement (ATEC) containing three new annexes: customs administration and trade facilitation, good regulatory practices and anti-corruption. U.S. Trade Representative Robert Lighthizer said the protocol “uses the existing ATEC to establish common standards for both countries in terms of effective customs procedures, transparent regulatory development and robust anti-corruption policy, which will provide a solid basis for closer economic relations between our two countries.” In a joint statement, the representatives of the two countries agreed that “these provisions demonstrate the mutual commitment of countries to the fundamental elements necessary for a fair upheaval of trade – the publication of information that allows stakeholders to express themselves on the rules, to establish transparent and effective processes at the border and to be vigilant against corruption.” “The internet industry believes that this update of the agreement with Brazil is a missed opportunity to strengthen the U.S. framework for digital trade, both through a robust digital chapter and by the inclusion of important provisions on customs and trade facilitation that would have facilitated e-commerce. America had a digital trade surplus of $219 last year, and an agreement with Brazil, which allowed small businesses across the country to reach a Brazilian market, would have given an urgent boost to American job creators. The United States and Brazil signed a new protocol on trade rules and transparency and updated a 2011 agreement between the two countries, as announced by the U.S. Trade Representative`s Office on October 19.

The USTR said the United States and Brazil would “continue to look for ways to increase trade in goods and services and promote new investment.” Ambassador Lighthizer spoke by telephone on Thursday with Brazilian Foreign Minister Ernesto Araéjo and several other senior Brazilian officials.