Why big business is opposed to Brazil’s economic opening

paulo guedes tariffs big business
Economy Minister Paulo Guedes

In his first visit to the U.S. as Brazil’s Economy Minister, Paulo Guedes promised investors looking to grab opportunities in Brazil that, beyond assets, they would find a whole different country, with a more open and pro-business economy. However, considering the first three months of the Jair Bolsonaro government, it seems that won’t be an easy promise to deliver.

It is true that the Jair Bolsonaro administration has delivered its pension reform bill in Congress and promoted concession auctions for infrastructure assets