Brazil

Brazilian President Dilma Rouseff’s campaign for re-election next year has been given a quick boost with the private business community after her party – the Brazil Worker’s Party – has announced a series of business tax breaks to be implemented sometime in 2014. 14 sectors are reported to benefit from the changes through an estimated total payroll tax breaks of $2.7 B. This comes after a statement from the Brazilian congress who has expressed their concern with the state of trade relations with neighbouring Argentina. Brazilian exports have dropped 22% and 2012 and continued to drop even further for the first quarter of 2013. Brazilian Foreign Minister Antonio Patriota has advised that trade relations will take precedence in the next unscheduled meeting between Brazilian President Dilma Rouseff and Argentine President Christina Kirchner. In the meantime, Minister Patriota expressed his hopeful outlook on stronger trade relations between Mercosur and the European Union; warning of the possible ramifications of an EU and American trade accord that could impose unfair trade regulations on the rest of the world. (April 7, 2013, Forbes; April 5, 2013, Buenos Aires Herald; April 6, 2013, MercoPress)