The trade war triggered by U.S. President Donald Trump has made Brazil even more dependent on its number one trading partner, China. The Asian giant now accounts for over one-quarter of all Brazilian exports and almost half of the country’s commodity exports since January. The United States, in second place, receives only 12 percent of total exports from Brazil.
The leading Brazilian product sold to China is soybeans, an export which has directly benefited from Mr. Trump’s trade conflict. China is set to import 6.8 million tons fewer soybeans from the United States this year, while...
