Latin America

Brazil and Chile new free trade deal, explained

brazil-chile free trade deal
Brazilian President Michel Temer (L) and his Chilean counterpart, Sebastián Piñera (R).

Only six months after Brazil and Chile committed themselves to make a new free trade deal happen, presidents Michel Temer and Sebastián Piñera inked an agreement at Santiago’s Palácio de la Moneda. “Few deals in the world have been initiated, negotiated and signed in such a short time span,” said Mr. Piñera. “This is the result of a natural convergence between our governments,” replied Mr. Temer. Now, the Brazil-Chile free trade deal only needs approval from both countries’ parliaments, which should come without much resistance.

Besides updating the terms of a 1996 trade deal, this...

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