Global trade enters 2026 shaped by two parallel dynamics. On one side, major economies are intensifying tariff measures and industrial policy initiatives. On the other,  regional trade agreements are accelerating as countries seek to secure market access and regulatory predictability. Supply chains are increasingly being redesigned not only around cost efficiency, but also around economic security, geographic diversification, and institutional stability.  As a result, the global environment is becoming both more complex and more selective.

Within this context, Brazil is emerging as a relevant diplomatic and commercial player. The country maintains strong economic ties with the United States, and continues to deepen its partnership with China—its largest trading partner, with bilateral trade reaching US$171 billion and capital goods imports growing 11.5% over the past year—and is advancing negotiations on agreements with the European Union (EU) and the European Free Trade Association (EFTA), the bloc comprising Switzerland, Norway, Iceland, and Liechtenstein. At the same time, ongoing negotiations with Canada and Japan signal an expansion of trade dialogue and investment facilitation. This dynamic reinforces Brazil’s role as the leading economy in Latin America and as a regional platform for global production chains. In a scenario of increasing geoeconomic fragmentation, Brazil’s ability to engage constructively with multiple economic blocs strengthens its position as a point of convergence between markets.

This external positioning is accompanied by a parallel process of domestic institutional reform.  The regulatory modernization agenda—which includes tax reform, updates to foreign trade regulations, consolidation of the port regulatory framework, and policies to promote cabotage shipping—aims to bring Brazil closer to international standards of governance and operational efficiency. At the same time, new cycles of concessions and investments in logistics infrastructure are intended to address longstanding bottlenecks and expand the country’s capacity to integrate into global value chains.

The combination of active economic diplomacy and ongoing domestic institutional adjustments places Brazil in a distinctive position within the evolving global trade landscape.  However, effective strategic integration will depend on coordinated implementation across trade policy, infrastructure development, and legal certainty. In this edition of Brazil Brief, experts from Vieira Rezende examine how agreements with the European Union and EFTA expand market access, how port modernization supports this process, and which tax and regulatory instruments can transform commercial opportunities into structured, long-term investment operations.