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On October 19, 2020, after seven months of negotiations,[1] officials from the United States and Brazil announced the conclusion of a protocol on a limited trade deal that will facilitate commerce between the countries, strengthen regulatory practices, and strengthen anti- corruption measures. The new Protocol concerns Trade Rules and Transparency. The Protocol updates the 2011 Agreement on Trade and Economic Cooperation (ATEC) with three new annexes consisting of state-of-the-art provisions on Customs Administration and Trade Facilitation, Good Regulatory Practices, and Anticorruption.[2] This article discusses Annex III on anti-corruption and some of its implications in the U.S. and Brazil.
*Mr. Ayres is a founding partner of the law firm Maeda, Ayres & Sarubbi in São Paulo, Brazil. He focuses on anti-corruption, government enforcement and compliance issues, with a particular emphasis on Brazil and other regions of Latin America. Mr. Ayres is a Professor at the Post-Graduate Program of FGVLaw, School of Law, in São Paulo.
[1] Ana Swanson, U.S. to Sign Limited Trade Deal With Brazil, N.Y. Times, Oct. 19, 2020.
[2] Office of the U.S> Trade Representative, United States and Brazil Update Agreement on Trade and Economic Cooperation with New Protocol on Trade Rules and Transparency, Oct. 19, 2020 https://ustr.gov/about-us/policy-offices/press-office/press-releases/2020/october/united-states-and-brazil-update-agreement-trade-and-economic-cooperation-new-protocol-trade-rules.