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US says Brazil should consider risks of joining Belt and Road: US trade representative Katherine Tai is calling on Brazil to consider the risks of joining China’s Belt and Road Initiative, after the country’s Agriculture Minister Carlos Favaro said they should join it to counter EU and Western protectionism last week, Bloomberg reported last week, citing comments made at Bloomberg New Economy at B20 in Sao Paulo. Tai said she encourages Brazil to look at the risks in the economy through “an objectivity lens, through a risk management lens” and to “really think about what the best pathway is forward for more resilience in the Brazilian economy.”
In context: The US is competing with China for economic influence in Latin America, as China is the top trade partner for Brazil, Chile, and Peru, taking up the region’s natural resources and increasingly investing in local infrastructure.
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