Mexico and Brazil eye expanded trade deal ahead of August meeting

Amid uncertainty successful their commercialized relationships with the United States, Mexico and Brazil are seeking to heighten their commercialized ties with each other.

President Claudia Sheinbaum spoke to her Brazilian counterpart, President Luiz Inácio Lula da Silva (Lula), connected Wednesday up of a sojourn to Mexico by a Brazilian authorities and concern delegation adjacent month.

Esta tarde conversé telefónicamente con el presidente de Brasil, Luiz Inácio Lula da Silva; dimos seguimiento al acuerdo para recibir en México a autoridades y empresarios de Brasil, con el propósito de profundizar nuestra colaboración en diversos temas. pic.twitter.com/7LGdEQG53X

— Claudia Sheinbaum Pardo (@Claudiashein) July 24, 2025

“We followed up connected the statement to invited successful Mexico authorities and concern radical from Brazil, with the purpose of deepening our collaboration connected assorted issues,” Sheinbaum wrote connected societal media.

In his ain societal media message, Lula said that helium emphasized to Sheinbaum “the value of deepening economical and commercialized relations betwixt our countries, particularly successful airy of the existent uncertainty.”

United States President Donald Trump precocious informed the Mexican and Brazilian leaders of his volition to enforce 30% tariffs connected imports from Mexico and 50% tariffs connected imports from Brazil starting Aug. 1.

Both Mexico and Brazil are aiming to scope agreements to halt those tariffs from taking effect, but determination is nary certainty they volition execute their goals.

In his societal media post, Lula noted that helium and Sheinbaum agreed that a delegation led by Brazilian Vice President Geraldo Alckmin would sojourn Mexico connected Aug. 27 and 28.

He besides said that helium and Sheinbaum “discussed the enlargement of the Brazil-Mexico commercialized agreement, highlighting the imaginable of the pharmaceutical, agricultural, ethanol, biodiesel, aerospace, innovation and acquisition sectors arsenic strategical areas successful our bilateral relationship.”

Negotiations aimed astatine the enlargement of the 23-year-old bilateral commercialized pact are expected to commence during adjacent month’s meetings successful Mexico.

Telefonei nesta quarta-feira, 23 de julho, para a presidenta bash México, @Claudiashein. Recordei o encontro que tivemos durante a Cúpula bash G7, nary Canadá, e agradeci pela presença bash chanceler mexicano na Cúpula bash BRICS, nary Rio de Janeiro.

Ressaltei a importância de aprofundar…

— Lula (@LulaOficial) July 23, 2025

Sheinbaum and Lula person met successful idiosyncratic connected respective occasions since the erstwhile took bureau past October. The Mexican president attended the G20 Leaders’ Summit hosted by Lula successful Rio de Janeiro past November, and held a bilateral gathering with the Brazilian person connected the sidelines of the CELAC Summit successful Tegucigalpa, Honduras, successful April. Sheinbaum besides spoke to Lula astatine the G7 Summit successful Canada past month.

After the Tegucigalpa meeting, Lula said that helium and Sheinbaum “decided to further fortify relations betwixt our 2 countries by promoting periodic meetings betwixt our governments and the productive sectors of manufacture successful Brazil and Mexico.”

Sheinbaum called for “greater determination economical integration” successful an code to the CELAC Summit, and has advocated a broadening of the USMCA pact to see much Western Hemisphere countries.

Her speech with Lula connected Thursday came conscionable aft Brazil adopted a caller protocol that allows Mexico to export avocados to Latin America’s astir populous state and largest economy.

The commercialized narration betwixt Mexico and Brazil 

According to Mexico’s Economy Ministry, two-way commercialized betwixt Mexico and Brazil amounted to US $14.53 cardinal successful 2024.

Mexico’s exports to Brazil were worthy $4.23 billion, portion imports from Brazil were worthy $10.3 billion.

Mexico’s apical export to Brazil was centrifugal conveyance parts and accessories, accounting for 19.1% of each gross earned from products shipped to the South American country.

Auto assemblage exports (parts, cars and trucks) accounted for conscionable implicit 43% of Mexico’s full gross from products sent to Brazil past year.

Mexico’s largest import from Brazil successful 2024 was intermediate products of robust oregon non-alloy steel, accounting for 20.5% of the full outlay connected Brazilian products.

Mexico’s 2nd largest export from Brazil was cars followed by meat.

Brazil to import avocados from Mexico, unlocking a marketplace of implicit 200 million

A Mexico-Brazil commercialized pact signed successful 2002 “sets the exemption oregon the simplification of import fees for immoderate 800 types of products,” Reuters reported past September erstwhile Mexican and Brazilian authorities began advocating for an updated and expanded agreement.

Marcelo Ebrard, system curate since the opening of the Sheinbaum administration, said astatine the clip that “the maturation of our narration has already topped that agreement.”

“We request to update it,” helium added.

Brazil ranked arsenic the 10th largest system successful the satellite successful 2024, portion Mexico ranked 13th, according to the International Monetary Fund (IMF).

The 2 countries are the No. 1 and No. 2 economies successful Latin America. Brazil’s nominal GDP successful 2024 was US $2.17 trillion past year, according to the IMF, portion Mexico’s GDP was $1.85 trillion.

With reports from El Universal and AFP