Lula to Push for Soy Export Boost to China During May Visit Amid U.S. Trade Tensions

According to CNN Brasil, President Luiz Inácio Lula da Silva will use his upcoming trip to China in May to negotiate an increase in Brazilian soybean exports to the Asian country. The Brazilian government sees an opportunity to boost exports amid the sweeping tariffs recently imposed by U.S. President Donald Trump.

The presidential palace’s strategy is to take advantage of the gap left by American agricultural products in the Chinese market—particularly soybeans—after the Trump administration slapped tariffs of up to 84% on Chinese exports. In response, Beijing has signaled it will reduce imports of U.S. products, creating space for suppliers from countries like Brazil.

China currently accounts for around 75% of Brazil’s soybean exports. The Brazilian government hopes to push that figure above 80% with the changing geopolitical landscape. The Asian country, the world’s largest buyer of U.S. agricultural products, mainly imports soybeans and corn.

In addition to the China visit, Lula plans to intensify negotiations with the European Union. The goal is to leverage current tensions between the EU and the U.S.—heightened by ongoing trade retaliations—to expand the presence of Brazilian agricultural goods in the European market.

The Brazilian delegation to China will include Agriculture Minister Carlos Fávaro and a group of agribusiness executives. The same team is expected to accompany Lula on an official trip to France in June with a similar agenda: boosting Brazil’s agribusiness exports abroad.

Source: Brasil 247

Sharing is caring!