From the Overview: "The United States and Brazil have moved to bolster trade ties in certain areas since March 2019. The two countries agreed to take steps toward lowering trade barriers for certain agricultural products, including wheat, pork, and beef. They also announced several other agreements, including a technology safeguards agreement that will allow U.S. space launches in Brazil, while ensuring proper handling of sensitive U.S. technology consistent with U.S. laws. The United States also endorsed Brazil's accession to the Organisation for Economic Co-operation and Development (OECD). Some experts contend that the United States and Brazil have numerous reasons to build upon the progress made in the economic relationship over the years. As Latin America faces increasing uncertainty amid global power shifts and external shocks, some observers contend that there are strategic and economic reasons to strengthen trade ties, although there may be opposition from certain labor or industry groups."
CRS In Focus, IF10447
Congressional Research Service: https://crsreports.congress.gov/