RIO DE JANEIRO, BRAZIL - Trade agreements with South Korea, Indonesia and Vietnam may increase Brazil's trade deficit with these countries by US$12.8 billion per year, according to a statement issued by the National Confederation of Industry (CNI).
According to the industry association, these agreements may lead to a drop in employment and production in up to 21 industry sectors, namely electronic products, electrical equipment, machinery and equipment, vehicles and auto parts, textiles, clothing and leather products.
The position is in line with the complaint voiced earlier by the executive-president of the Brazilian Electrical and Electronics Industry . . .