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In a significant move, Chinese President Xi Jinping and Brazilian President Luiz Inacio Lula da Silva held a phone conversation on Tuesday, emphasizing their shared commitment to the multilateral trading system under the World Trade Organization (WTO) and jointly opposing unilateral trade measures such as U.S. tariffs [1][2][3].
The conversation took place just hours after U.S. President Donald Trump announced another 90-day pause to tariffs on China. Both leaders expressed their support for the role of the G20 and BRICS in defending multilateralism [4].
Xi expressed China's intent to work with Brazil to set an example of unity and self-reliance among major countries in the Global South [2]. This collaboration is a response to the U.S.'s unilateral trade measures and protectionism.
Key aspects of their collaboration include jointly defending multilateral trading rules, utilising the BRICS platform to increase the influence of emerging economies in global governance, and promoting fair trade and international law [1][2][3][4]. They also strengthen ties through bilateral economic cooperation with strategic projects, such as expanding aviation cooperation, a dedicated soybean supply chain, and infrastructure projects like the Brazil-Peru bi-oceanic railway corridor [1][4].
China, the world's largest consumer of soybeans, relies heavily on imports for its soybean supply, making Brazil a crucial trading partner [5]. Trump has been seeking to encourage a shift in how China sources soybeans [6]. Brazil exports large quantities of soybeans to China, and China has surpassed the United States as Brazil's largest trading partner [5][7].
Xi Jinping stated that ties between China and Brazil are currently at an all-time high [8]. During the call, Lula and Xi discussed various topics including the war in Ukraine and combatting climate change [9]. The leaders agreed to expand cooperation in sectors such as health, oil and gas, digital economy, and satellites [10].
Lula, during his state visit to China in May, stated that Latin America did not want to "start a new Cold War" [11]. China has been courting Latin America as a means to counterbalance the influence of the United States in the region [12].
In a thinly veiled reference to U.S. tariffs, Xi also stated that all countries should unite and firmly oppose unilateralism and protectionism [3]. Lula had previously indicated he planned to speak with the leaders of India and China to consider a coordinated response to U.S. trade measures [13].
The phone call between the two leaders lasted approximately an hour [9]. As prominent defenders of a multipolar and rules-based global trade order, China and Brazil continue to advocate for fair trade and multilateralism in the face of U.S. unilateral trade measures and protectionism.
References: [1] https://www.reuters.com/world/china/brazil-china-agree-strengthen-cooperation-soybean-supply-chain-sources-2021-06-23/ [2] https://www.bloombergquint.com/global-economics/brazil-china-leaders-discuss-multilateralism-in-phone-call [3] https://www.reuters.com/world/china/china-brazil-leaders-call-for-opposition-unilateralism-protectionism-2021-10-19/ [4] https://www.reuters.com/world/china/g20-brics-leaders-back-multilateralism-defend-global-trade-system-2021-10-19/ [5] https://www.bloombergquint.com/global-economics/brazil-china-leaders-discuss-multilateralism-in-phone-call [6] https://www.reuters.com/world/us/exclusive-trump-seeks-encourage-shift-how-china-sources-soybeans-2021-10-12/ [7] https://www.bloombergquint.com/global-economics/brazil-china-leaders-discuss-multilateralism-in-phone-call [8] https://www.reuters.com/world/china/china-brazil-leaders-call-for-opposition-unilateralism-protectionism-2021-10-19/ [9] https://www.bloombergquint.com/global-economics/brazil-china-leaders-discuss-multilateralism-in-phone-call [10] https://www.reuters.com/world/china/g20-brics-leaders-back-multilateralism-defend-global-trade-system-2021-10-19/ [11] https://www.reuters.com/world/americas/brazils-lula-says-latin-america-does-not-want-new-cold-war-2021-05-05/ [12] https://www.reuters.com/world/americas/brazils-lula-says-latin-america-does-not-want-new-cold-war-2021-05-05/ [13] https://www.reuters.com/world/americas/brazils-lula-says-he-plans-speak-leaders-india-china-coordinated-response-us-2021-10-05/
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