FX.co ★ Brazil to Open Tax Advisory Office in China

Brazil is set to establish a tax advisory office in China to strengthen its relationship with its principal trading partner, as announced by the finance ministry. This strategic decision comes amid escalating global trade tensions, partly due to U.S. President Donald Trump's imposition of 50% tariffs on Brazilian imports. Facing constrained negotiating avenues with Washington, Brazil is pivoting towards China. The newly established office will serve a critical role in exchanging tax and customs information, offering legal advice on Brazilian regulations tailored for foreign investors and expatriates, and improving legal certainty and the overall business environment. Since 2023, President Lula has conducted three meetings with Chinese President Xi Jinping, highlighting the growing bilateral relationship. Officials have dismissed any links between this initiative and the ongoing U.S.-Brazil trade tensions.