Brazil and the US make progress in negotiations, and the stock market surpasses 157 points.

Brazil-US negotiations gain prominence with impact on trade.

In recent days, the Brazilian economic landscape has been marked by progress in trade negotiations between Brazil and the United States, as well as significant movements in the Brazilian Stock Exchange. The meeting between the Brazilian Foreign Minister, Mauro Vieira, and the US Secretary of State, Marco Rubio, which took place in Niagara Falls during the G7 summit, focused on reviewing the so-called "tariff hike" imposed by the US on Brazilian products, with discussions aimed at preventing indirect exports via third countries.

The Brazilian government submitted a negotiation proposal to the US in early November, seeking to expand access to the Sovereign Brazil Plan, a program that offers support to sectors affected by these tariffs. The plan was recently expanded, with reduced requirements for companies to benefit, bringing relief to export sectors pressured by the American surcharge.

Impacts on exports and the agricultural sector

The coffee sector, a traditional industry in Brazil, has felt the impact of reduced sales to the US, with a significant drop and the American market adapting to the lower Brazilian supply. However, there is optimism regarding the possibility of tariff relief, which could recover market share in the US, crucial for Brazilian agribusiness.

The stock market hits a historic streak and surpasses 157,000 points.

B3 has registered a strong rise, with the Ibovespa index surpassing the 157 thousand point mark and accumulating 14 consecutive increases until last Monday (10). This performance is mainly driven by the oil, mining and banking sectors. In 2025, the appreciation of the Brazilian stock exchange reaches 29,08%, the highest since 2019.

Investors are also closely monitoring the release of the minutes from the Central Bank's Monetary Policy Committee (Copom) and inflation data, which may signal cuts in the benchmark interest rate (Selic) as early as January 2026, further stimulating the stock market.

Dollar fluctuation and economic expectations

The commercial dollar has shown a moderate decline, closing at R$ 5.2975 with a recent increase of 0.10%. The US currency remains sensitive to trade negotiations and Brazilian monetary policy, reflecting market uncertainties and expectations.

Trade data indicates a mixed scenario for retail.

The Monthly Trade Survey (PMC) released by IBGE on November 13th showed mixed results for retail trade in September, with modest growth of 0.3% in the restricted concept and 0.1% in the expanded concept. Regionally, 15 states showed a decrease in sales, notably Maranhão and Roraima, while Tocantins and Amapá led the increases.

Perspectives and debates

The current moment raises important debates about the future of the Brazilian economy, especially regarding the balance between trade liberalization, protection of strategic sectors, and stimulation of the domestic market. Negotiations with the US and the response of the financial market indicate a scenario of cautious optimism, but one dependent on external factors and the conduct of local economic policy.

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