Korean media: "Thanks to Trump", China and Brazil's trade volume reached a historic high!
On February 11, the South Korean media "Global Economy" published an article stating that China and Brazil's trade volume reached a historic high last year.
Data from the China-Brazil Business Association shows that the bilateral trade volume reached 171 billion U.S. dollars last year, an increase of 8.2% compared to the previous year.
This is the highest trade volume in history, more than twice the trade volume between Brazil and its second largest trading partner, the United States (83 billion U.S. dollars).
An analysis suggests that this is mainly due to the impact of U.S. President Trump's high tariff policy, which further shifted Brazil's export focus towards China.
Last year, China accounted for 28.7% of Brazil's total exports and 25.3% of its total imports, consolidating its position as Brazil's most important import and export market.
Brazil's exports to China increased by 6%, reaching 100 billion U.S. dollars, the second-highest in history; while Brazil's imports from China increased by 11.6%, reaching 70.9 billion U.S. dollars, setting a new record.
Previously, President Trump imposed a 40% tariff on Brazilian imported goods in July last year, following a 10% tariff already imposed.
In response, China increased its imports of Brazilian coffee, filling the gap caused by American and European products in the Brazilian market, thus helping to alleviate the geopolitical impact.
Original: toutiao.com/article/1856829923781635/
Statement: This article represents the personal views of the author.