Brazil's Lula and China's Xi Jinping agreed to accelerate a China Mercosur trade deal, seeking market diversification after new US tariff barriers.
Brazil · Trade
Key Facts
—Phone Call Presidents Lula and Xi spoke for over an hour on 26 July 2026, agreeing to fast-track Mercosur-China trade talks.
—Strategic Timing The call came weeks after Lula publicly pushed for negotiations at a Mercosur summit and amid new US tariff pressures.
—Trade Volume Bilateral trade between Brazil and China alone reached US$188.17 billion in the most recent year cited.
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