IBOV 172,812.43 ▼ 0.32% IPSA 10,957.23 ▲ 0.55% IPC MEX 66,125.27 ▼ 0.74% MERVAL 3,281,489 ▲ 1.79% COLCAP 2,309.56 ▲ 0.49% BVL PERÚ 56,620.35 — — USD/BRL5.07▼ 0.41% USD/MXN17.40▼ 0.19% USD/CLP933.87▼ 0.07% USD/COP3,224▼ 1.36% USD/PEN3.40▲ 0.13% USD/ARS1,477▼ 0.30% USD/UYU40.11▲ 1.23% USD/PYG6,045▲ 1.76% USD/BOB10.80▲ 2.69% USD/DOP58.02▲ 0.31% USD/CRC446.12▲ 1.15% USD/GTQ7.62▲ 2.33% USD/HNL26.74▲ 1.61% USD/NIO36.62▲ 0.84% USD/VES735.39▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD156.98▲ 0.21% USD/TTD6.73▲ 1.11% EUR/BRL5.78▼ 1.23% BRENT 91.02 ▲ 2.02% WTI 84.20 ▲ 1.17% IRON ORE 161.91 — — COPPER 6.54 ▲ 3.75% GOLD 4,076 ▲ 1.65% SILVER 59.17 ▲ 4.17% SOY 1,223 ▼ 0.27% CORN 475.75 ▲ 5.84% WHEAT 677.00 ▲ 0.45% COFFEE 323.05 ▼ 3.39% SUGAR 14.90 ▲ 0.54% ORANGE JUICE 146.55 ▼ 0.58% COTTON 80.03 ▲ 3.44% COCOA 5,608 ▲ 1.59% BEEF 223.23 ▼ 1.46% CATTLE 345.33 ▼ 1.90% LITHIUM 69.21 ▲ 3.41% PETR4 41.55 ▲ 0.97% VALE3 72.23 ▲ 0.42% ITUB4 42.38 ▲ 0.19% BBDC4 18.51 ▲ 0.54% ABEV3 15.83 ▲ 0.25% BBAS3 20.68 ▲ 2.53% B3SA3 15.11 ▼ 0.98% WEGE3 42.63 ▼ 1.16% PRIO3 58.55 ▲ 1.49% SUZB3 41.49 ▼ 0.95% RENT3 36.57 ▼ 2.45% AZZA3 17.83 ▼ 1.87% CSAN3 3.76 ▼ 1.57% RAIZ4 0.27 — 0.00% PCAR3 2.72 ▲ 4.62% GMAT3 3.81 ▼ 1.04% PSSA3 53.32 ▼ 1.62% CVCB3 1.14 ▲ 5.56% POSI3 3.75 ▲ 1.35% SLCE3 13.62 ▲ 0.37% NATU3 8.77 ▲ 1.62% BRKM5 5.85 ▼ 1.52% RANI3 7.88 ▼ 1.38% CSNA3 5.09 ▲ 0.39% CMIN3 5.47 ▲ 1.48% USIM5 8.39 ▲ 2.82% GGBR4 23.61 ▼ 0.04% ENEV3 25.39 ▼ 1.01% CPFE3 46.39 ▲ 0.15% CMIG4 11.02 — 0.00% EQTL3 38.58 ▼ 1.81% LREN3 13.19 ▼ 0.90% VIVT3 35.50 ▼ 0.48% RAIL3 13.25 ▼ 2.36% KLABIN 17.42 ▼ 0.34% RAIA DROGASIL 18.45 ▼ 1.28% RDOR3 33.31 ▼ 6.04% HAPV3 11.20 ▼ 3.03% FLRY3 16.46 ▼ 0.60% SMTO3 15.41 — 0.00% UGPA3 31.62 ▼ 0.25% VBBR3 33.58 ▼ 1.55% BBSE3 41.14 ▲ 0.22% BPAC11 55.52 ▼ 0.57% CURY3 29.61 ▼ 1.92% AERI3 2.05 ▼ 0.97% VIVARA 21.38 ▼ 2.64% COMPASS 24.38 ▼ 0.89% VAMOS 3.10 ▲ 0.32% SANB11 27.27 ▲ 0.96% ASAI3 8.18 ▲ 0.49% SBSP3 28.55 ▼ 1.48% WALMEX 49.26 ▼ 0.24% GMEXICO 206.69 ▲ 2.92% FEMSA 225.97 ▼ 0.44% CEMEX 21.94 ▲ 0.27% GFNORTE 185.35 ▲ 2.97% BIMBO 58.73 ▼ 1.29% TELEVISA 9.70 ▼ 0.10% AMX 22.69 ▼ 0.22% GAP 377.50 ▼ 0.18% ASUR 272.63 ▼ 0.63% OMA 224.40 ▼ 0.90% KOF 180.31 ▼ 0.28% GRUMA 282.48 ▼ 1.78% KIMBER 38.18 ▼ 0.55% SQM-B 64,885 ▲ 2.79% COPEC 6,363 ▲ 2.62% BSANTANDER 79.10 ▲ 3.96% FALABELLA 5,901 ▲ 0.45% ENELAM 84.64 ▲ 0.63% CENCOSUD 2,020 ▲ 1.24% CMPC 1,093 ▲ 2.48% BANCO CHILE 190.49 ▲ 2.14% LATAM AIR 24.45 ▲ 0.16% YPF 80,025 ▲ 1.04% GGAL 8,005 ▲ 2.04% PAMPA 5,425 ▲ 2.94% TXAR 663.50 ▼ 1.04% ALUAR 967.00 ▲ 0.78% TGS 9,715 ▲ 2.26% CEPU 2,358 ▲ 3.01% MIRGOR 16,925 ▼ 1.17% COME 43.17 ▲ 0.51% LOMA NEGRA 3,640 ▲ 1.89% BYMA 293.75 — 0.00% TELECOM ARG 4,215 ▲ 1.69% ECOPETROL 16.38 ▲ 2.18% BANCOLOMBIA 83.46 ▲ 3.27% GRUPO AVAL 5.00 ▲ 1.01% CREDICORP 394.51 ▲ 1.98% SOUTHERN COPPER 186.06 ▲ 6.27% BUENAVENTURA 31.23 ▲ 3.89% MERCADOLIBRE 1,817 ▼ 0.87% NUBANK 14.24 ▲ 1.75% XP 16.74 ▼ 0.36% PAGSEGURO 9.52 ▲ 2.42% STONE 11.25 ▲ 1.12% GLOBANT 32.02 ▼ 0.84% TECNOGLASS 45.96 ▼ 0.32% GAP AIRPORT 216.91 ▼ 0.10% ASUR 272.63 ▼ 0.63% OMA AIRPORT 103.61 ▼ 0.38% AMX ADR 26.01 ▼ 0.34% FEMSA ADR 129.84 ▼ 0.13% CEMEX ADR 12.60 ▲ 0.84% PETROBRAS ADR 18.44 ▲ 1.35% VALE ADR 14.21 ▲ 0.78% ITAU ADR 8.35 ▲ 0.36% SANTANDER BR 5.41 ▲ 0.65% AMBEV ADR 3.11 ▲ 0.81% CSN 1.02 ▲ 0.50% GERDAU 4.67 ▼ 0.20% LATAM ADR 52.13 ▲ 0.75% BTC 66,429 ▲ 1.84% ETH 1,925 ▲ 1.12% SOL 77.88 ▲ 0.11% XRP 1.16 ▲ 3.96% BNB 573.78 ▲ 0.53% ADA 0.17 ▲ 2.19% DOGE 0.07 ▲ 1.65% AVAX 6.63 ▲ 0.82% LINK 8.64 ▲ 0.69% DOT 0.86 ▲ 3.49% LTC 47.42 ▲ 0.17% BCH 225.28 ▲ 2.44% TRX 0.33 ▲ 0.57% XLM 0.19 ▲ 2.32% HBAR 0.07 ▲ 3.10% NEAR 1.93 ▼ 2.36% ATOM 1.49 ▼ 0.20% AAVE 95.54 ▲ 6.42% SELIC 14.25% EMBRAER 83.36 ▲ 0.08% EMBRAER ADR 65.76 ▼ 0.26% JBS 11.87 ▼ 1.33% JBS BDR 60.19 ▼ 0.99% MBRF3 15.17 ▲ 4.48% MBRFY 2.95 ▲ 1.37% INTER 5.54 ▼ 1.42% EGX 53,990 ▲ 1.63% USD/ZAR16.45▼ 0.50% USD/NGN1,376▼ 0.27% NIKKEI 66,232 ▲ 3.26% CSI300 4,739 ▲ 3.06% HSI 25,132 ▼ 0.04% NIFTY 24,188 ▼ 0.21% KOSPI 6,748 ▲ 3.56% JCI 6,340 ▲ 1.74% USD/JPY163.00▲ 0.31% USD/CNY6.76▼ 0.17% DAX 25,011 ▲ 0.66% CAC 8,363 ▲ 0.28% FTSE 10,586 ▲ 0.58% MIB 52,285 ▲ 0.81% IBEX 19,380 ▲ 0.90% STOXX 643.19 ▲ 0.56% EUR/USD1.14▼ 0.03% GBP/USD1.34▼ 0.45% SPX 7,509 ▲ 0.89% DJI 52,277 ▲ 0.85% NDX 29,163 ▲ 1.95% RUT 2,981 ▲ 1.30% TSX 35,313 ▲ 1.01% VIX 17.08 ▼ 8.42% USD/CAD1.41▲ 0.21% US10Y 4.6280 ▲ 0.65% IBOV 172,812.43 ▼ 0.32% IPSA 10,957.23 ▲ 0.55% IPC MEX 66,125.27 ▼ 0.74% MERVAL 3,281,489 ▲ 1.79% COLCAP 2,309.56 ▲ 0.49% BVL PERÚ 56,620.35 — — USD/BRL 5.07 ▼ 0.41% USD/MXN 17.40 ▼ 0.19% USD/CLP 933.87 ▼ 0.07% USD/COP 3,224 ▼ 1.36% USD/PEN 3.39 ▲ 0.08% USD/ARS 1,477 ▼ 0.30% USD/UYU 40.11 ▲ 1.23% USD/PYG 6,045 ▲ 1.76% USD/BOB 10.80 ▲ 2.69% USD/DOP 58.02 ▲ 0.31% USD/CRC 446.12 ▲ 1.15% USD/GTQ 7.62 ▲ 2.33% USD/HNL 26.74 ▲ 1.61% USD/NIO 36.62 ▲ 0.84% USD/VES 735.39 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.79 ▲ 0.73% USD/TTD 6.73 ▲ 1.11% EUR/BRL 5.78 ▼ 1.23% BRENT 91.02 ▲ 2.02% WTI 84.20 ▲ 1.17% IRON ORE 161.91 — — COPPER 6.54 ▲ 3.75% GOLD 4,076 ▲ 1.65% SILVER 59.17 ▲ 4.17% SOY 1,223 ▼ 0.27% CORN 475.75 ▲ 5.84% WHEAT 677.00 ▲ 0.45% COFFEE 323.05 ▼ 3.39% SUGAR 14.90 ▲ 0.54% ORANGE JUICE 146.55 ▼ 0.58% COTTON 80.03 ▲ 3.44% COCOA 5,608 ▲ 1.59% BEEF 223.23 ▼ 1.46% CATTLE 345.33 ▼ 1.90% LITHIUM 69.21 ▲ 3.41% PETR4 41.55 ▲ 0.97% VALE3 72.23 ▲ 0.42% ITUB4 42.38 ▲ 0.19% BBDC4 18.51 ▲ 0.54% ABEV3 15.83 ▲ 0.25% BBAS3 20.68 ▲ 2.53% B3SA3 15.11 ▼ 0.98% WEGE3 42.63 ▼ 1.16% PRIO3 58.55 ▲ 1.49% SUZB3 41.49 ▼ 0.95% RENT3 36.57 ▼ 2.45% AZZA3 17.83 ▼ 1.87% CSAN3 3.76 ▼ 1.57% RAIZ4 0.27 — 0.00% PCAR3 2.72 ▲ 4.62% GMAT3 3.81 ▼ 1.04% PSSA3 53.32 ▼ 1.62% CVCB3 1.14 ▲ 5.56% POSI3 3.75 ▲ 1.35% SLCE3 13.62 ▲ 0.37% NATU3 8.77 ▲ 1.62% BRKM5 5.85 ▼ 1.52% RANI3 7.88 ▼ 1.38% CSNA3 5.09 ▲ 0.39% CMIN3 5.47 ▲ 1.48% USIM5 8.39 ▲ 2.82% GGBR4 23.61 ▼ 0.04% ENEV3 25.39 ▼ 1.01% CPFE3 46.39 ▲ 0.15% CMIG4 11.02 — 0.00% EQTL3 38.58 ▼ 1.81% LREN3 13.19 ▼ 0.90% VIVT3 35.50 ▼ 0.48% RAIL3 13.25 ▼ 2.36% KLABIN 17.42 ▼ 0.34% RAIA DROGASIL 18.45 ▼ 1.28% RDOR3 33.31 ▼ 6.04% HAPV3 11.20 ▼ 3.03% FLRY3 16.46 ▼ 0.60% SMTO3 15.41 — 0.00% UGPA3 31.62 ▼ 0.25% VBBR3 33.58 ▼ 1.55% BBSE3 41.14 ▲ 0.22% BPAC11 55.52 ▼ 0.57% CURY3 29.61 ▼ 1.92% AERI3 2.05 ▼ 0.97% VIVARA 21.38 ▼ 2.64% COMPASS 24.38 ▼ 0.89% VAMOS 3.10 ▲ 0.32% SANB11 27.27 ▲ 0.96% ASAI3 8.18 ▲ 0.49% SBSP3 28.55 ▼ 1.48% WALMEX 49.26 ▼ 0.24% GMEXICO 206.69 ▲ 2.92% FEMSA 225.97 ▼ 0.44% CEMEX 21.94 ▲ 0.27% GFNORTE 185.35 ▲ 2.97% BIMBO 58.73 ▼ 1.29% TELEVISA 9.70 ▼ 0.10% AMX 22.69 ▼ 0.22% GAP 377.50 ▼ 0.18% ASUR 272.63 ▼ 0.63% OMA 224.40 ▼ 0.90% KOF 180.31 ▼ 0.28% GRUMA 282.48 ▼ 1.78% KIMBER 38.18 ▼ 0.55% SQM-B 64,885 ▲ 2.79% COPEC 6,363 ▲ 2.62% BSANTANDER 79.10 ▲ 3.96% FALABELLA 5,901 ▲ 0.45% ENELAM 84.64 ▲ 0.63% CENCOSUD 2,020 ▲ 1.24% CMPC 1,093 ▲ 2.48% BANCO CHILE 190.49 ▲ 2.14% LATAM AIR 24.45 ▲ 0.16% YPF 80,025 ▲ 1.04% GGAL 8,005 ▲ 2.04% PAMPA 5,425 ▲ 2.94% TXAR 663.50 ▼ 1.04% ALUAR 967.00 ▲ 0.78% TGS 9,715 ▲ 2.26% CEPU 2,358 ▲ 3.01% MIRGOR 16,925 ▼ 1.17% COME 43.17 ▲ 0.51% LOMA NEGRA 3,640 ▲ 1.89% BYMA 293.75 — 0.00% TELECOM ARG 4,215 ▲ 1.69% ECOPETROL 16.38 ▲ 2.18% BANCOLOMBIA 83.46 ▲ 3.27% GRUPO AVAL 5.00 ▲ 1.01% CREDICORP 394.51 ▲ 1.98% SOUTHERN COPPER 186.06 ▲ 6.27% BUENAVENTURA 31.23 ▲ 3.89% MERCADOLIBRE 1,817 ▼ 0.87% NUBANK 14.24 ▲ 1.75% XP 16.74 ▼ 0.36% PAGSEGURO 9.52 ▲ 2.42% STONE 11.25 ▲ 1.12% GLOBANT 32.02 ▼ 0.84% TECNOGLASS 45.96 ▼ 0.32% GAP AIRPORT 216.91 ▼ 0.10% ASUR 272.63 ▼ 0.63% OMA AIRPORT 103.61 ▼ 0.38% AMX ADR 26.01 ▼ 0.34% FEMSA ADR 129.84 ▼ 0.13% CEMEX ADR 12.60 ▲ 0.84% PETROBRAS ADR 18.44 ▲ 1.35% VALE ADR 14.21 ▲ 0.78% ITAU ADR 8.35 ▲ 0.36% SANTANDER BR 5.41 ▲ 0.65% AMBEV ADR 3.11 ▲ 0.81% CSN 1.02 ▲ 0.50% GERDAU 4.67 ▼ 0.20% LATAM ADR 52.13 ▲ 0.75% BTC 66,429 ▲ 1.84% ETH 1,925 ▲ 1.12% SOL 77.88 ▲ 0.11% XRP 1.16 ▲ 3.96% BNB 573.78 ▲ 0.53% ADA 0.17 ▲ 2.19% DOGE 0.07 ▲ 1.65% AVAX 6.63 ▲ 0.82% LINK 8.64 ▲ 0.69% DOT 0.86 ▲ 3.49% LTC 47.42 ▲ 0.17% BCH 225.28 ▲ 2.44% TRX 0.33 ▲ 0.57% XLM 0.19 ▲ 2.32% HBAR 0.07 ▲ 3.10% NEAR 1.93 ▼ 2.36% ATOM 1.49 ▼ 0.20% AAVE 95.54 ▲ 6.42% SELIC 14.25% EMBRAER 83.36 ▲ 0.08% EMBRAER ADR 65.76 ▼ 0.26% JBS 11.87 ▼ 1.33% JBS BDR 60.19 ▼ 0.99% MBRF3 15.17 ▲ 4.48% MBRFY 2.95 ▲ 1.37% INTER 5.54 ▼ 1.42% EGX 53,990 ▲ 1.63% USD/ZAR 16.44 ▼ 0.32% USD/NGN 1,376 ▲ 0.02% NIKKEI 66,232 ▲ 3.26% CSI300 4,739 ▲ 3.06% HSI 25,132 ▼ 0.04% NIFTY 24,188 ▼ 0.21% KOSPI 6,748 ▲ 3.56% JCI 6,340 ▲ 1.74% USD/JPY 162.98 ▲ 0.32% USD/CNY 6.7554 ▼ 0.03% DAX 25,011 ▲ 0.66% CAC 8,363 ▲ 0.28% FTSE 10,586 ▲ 0.58% MIB 52,285 ▲ 0.81% IBEX 19,380 ▲ 0.90% STOXX 643.19 ▲ 0.56% EUR/USD 1.1413 ▼ 0.01% GBP/USD 1.3386 ▼ 0.30% SPX 7,509 ▲ 0.89% DJI 52,277 ▲ 0.85% NDX 29,163 ▲ 1.95% RUT 2,981 ▲ 1.30% TSX 35,313 ▲ 1.01% VIX 17.08 ▼ 8.42% USD/CAD 1.4095 ▲ 0.12% US10Y 4.6280 ▲ 0.65%
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Tuesday, July 21, 2026

Rubio Sees Improving U.S.–Brazil Ties, With Trade Talks Still Unfinished

By · December 21, 2025 · 2 min read

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Key Points

  1. Marco Rubio says U.S.–Brazil ties are on a “positive trajectory” after months of tariff and sanctions turmoil.
  2. The U.S. narrowed tariff coverage, cut duties on 200-plus goods, and lifted Magnitsky sanctions linked to Brazil’s Supreme Court dispute.
  3. Venezuela is the next stress point, with Rubio not ruling out direct Trump–Maduro talks.

On December 19, Rubio said trade cooperation with President Luiz Inácio Lula da Silva has moved forward, though “work” remains. He also confirmed a recent call with Foreign Minister Mauro Vieira to align priorities.

That is a change from August, when the Trump administration imposed tariffs that reached 50% on Brazilian products.

Brasília answered with a R$30 billion ($6 billion) support line through the Export Guarantee Fund, paired with help for smaller exporters and tax relief to steady cash flow.

A political opening followed in late October, when Lula and Trump met during the 47th ASEAN summit in Kuala Lumpur. Brazil pushed for a negotiated fix, arguing the tariffs were economically damaging. The U.S. signaled it wanted faster, deal-like outcomes.

Relief came in steps. In mid-November, the White House updated the annex tied to Executive Order 14323, narrowing the list of goods facing the additional burden.

Soon after, Washington removed a 40% layer of duties for more than 200 items, including beef, coffee, and açaí.

Rubio Sees Improving U.S.–Brazil Ties, With Trade Talks Still Unfinished
Rubio Sees Improving U.S.–Brazil Ties, With Trade Talks Still Unfinished
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Rubio Sees Improving U.S.–Brazil Ties, With Trade Talks Still Unfinished

The bigger reset came on December 12, when the U.S. removed Supreme Court Justice Alexandre de Moraes, his wife Viviane Barci de Moraes, and the Lex Institute from the Global Magnitsky sanctions list.

The designations had turned Brazil’s internal legal fight into a bilateral confrontation. Lifting them lowered the temperature and reopened room for trade bargaining.

https://wordpress-1021692-6203902.cloudwaysapps.com/trumps-brazil-u-turn-when-tariffs-and-sanctions-yield-to-minerals-and-deals/

Now Venezuela may decide whether the thaw holds. Rubio said Washington recognizes Lula’s “good will” in offering to mediate and did not rule out a Trump–Nicolás Maduro meeting, even as the U.S. tightens maritime enforcement around Venezuelan oil.

Politics still bites. U.S. Democratic lawmakers have urged Trump to avoid new tariffs on Brazil. In Brazil, Jair Bolsonaro’s 27-year sentence keeps tensions high.

Online, the shift has fueled viral false claims about hidden U.S. “demands,” showing how easily technical decisions become political weapons.

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