On Wednesday, June 22nd, the Inter-American Dialogue held a private event to discuss the US-Brazil relationship through the crisis. US Ambassador Liliana Ayalde was accompanied by Ricardo Zuniga, Consul General in São Paulo, to discuss the state of the relationship between the two countries. In the midst of the current uncertainty, productive dialogue between the US and Brazil remains pivotal, especially in the areas of trade, security, and democracy, as both nations look towards a better economic outlook.
In terms of trade relations, the US and Brazil look towards exploring paths for advancement and growth in the face of adversity. This month, consumer confidence in Brazil reached its highest level in a year – up 3.4 points to a score of 71.3. Even though the country continues to face mounting levels of public debt – exemplified by an increase of 2.82% in federal debt this past May – commercial institutions are still resilient. The US, as Brazil’s second largest trade partner, will continue to play an important role in Brazilian economic developments.
Both the US and Brazil demonstrate a commitment to strengthen multilateral institutions, such as the OAS. Despite the current state of the economy, both countries continue to be important sources of revenue for the OAS and continue to see the body as an important space for constructive discourse.
This event confirmed that Brazil, as the largest economy in Latin America, remains an important ally for Washington and that both countries would benefit from a cooperative approach towards solving the crisis and achieving political stability.
