Savi’s Clipping #17

Check out some of the main news that moved Foreign Trade last week:

Brazil and Argentina discuss a common currency

One of the most commented subjects in the last month was the possibility of an eventual single currency between Brazil and Argentina; the new currency would facilitate commercial exchanges between the two countries and stimulate exports to our neighbor.

During his first international trip, President Lula met with Argentine President Alberto Fernández and discussed various matters of bilateral interest. The issue of creating a common currency, however, will have to be debated by their economic teams before any definitive decision is finally made. It is also important to emphasize that this currency – which would be called “Sur” – a priori, would not replace either the Brazilian real or the Argentine peso.

Maersk and MSC announce the end of the 2M alliance

In 2015, the shipping giants, Maersk and MSC created an alliance to operate together in the international market, thus facilitating and boosting both companies.

Last week, Maersk announced that the contract, which is valid for 10 years, will not be renewed, thereby the end of the “2M alliance” will be in 2025.

The U.S. revokes import barrier against Brazilian steel

The Brazilian Ministry of Foreign Affairs has just announced that the US International Trade Commission decided to revoke the application of a tariff on steel that had existed since 1993. This removal will be of great interest for the national steel sector, which will surely expand its market in the U.S. territory.

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