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BRAZIL: Lower House Speaker Says Must Respond to Carrefour's Actions

BRAZIL
BulletEM BulletEmerging Market News
  • "LIRA: BRAZIL MUST RESPOND TO FRANCE'S PROTECTIONISM"
  • "BRAZIL LOWER HOUSE TO VOTE ON RECIPROCITY BILL THIS WEEK" (BBG)
  • Some further colour on the headlines:
    • Lower House Speaker Lira’s comments on France follow last week’s news that the CEO of French retailer Carrefour vowed to keep South American meat off its shelves in France in solidarity with the nation’s farmers. Brazil's government called the comments part of a wider push to undermine a pending trade deal, describing the pledge as part of an "orchestrated action" by French companies to sabotage the trade pact between the European Union and South American trade bloc Mercosur.
    • Brazil’s lower house will now vote an “economic reciprocity bill” this week in response. The proposal establishes that Brazil won’t be part of any deal that can represent restrictions on Brazilian exports and free trade when other countries or blocks signatories don’t adopt equivalent instruments in their legal and regulatory framework
    • Reports suggest the bill will move straight to the lower house floor, skipping the committees. It is unclear whether it could move to the senate this week.
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  • "LIRA: BRAZIL MUST RESPOND TO FRANCE'S PROTECTIONISM"
  • "BRAZIL LOWER HOUSE TO VOTE ON RECIPROCITY BILL THIS WEEK" (BBG)
  • Some further colour on the headlines:
    • Lower House Speaker Lira’s comments on France follow last week’s news that the CEO of French retailer Carrefour vowed to keep South American meat off its shelves in France in solidarity with the nation’s farmers. Brazil's government called the comments part of a wider push to undermine a pending trade deal, describing the pledge as part of an "orchestrated action" by French companies to sabotage the trade pact between the European Union and South American trade bloc Mercosur.
    • Brazil’s lower house will now vote an “economic reciprocity bill” this week in response. The proposal establishes that Brazil won’t be part of any deal that can represent restrictions on Brazilian exports and free trade when other countries or blocks signatories don’t adopt equivalent instruments in their legal and regulatory framework
    • Reports suggest the bill will move straight to the lower house floor, skipping the committees. It is unclear whether it could move to the senate this week.