The moratorium, agreed at the dawn of the internet, lapsed for the first time in 28 years after World Trade Organization countries failed to agree on a routine extension.

Four days of talks among trade ministers in Cameroon’s capital Yaounde broke up in the early hours of Monday with Brazil and Turkey blocking a bid to extend the e-commerce moratorium, which including on digital downloads and streaming.

Countries also failed to agree on a path to reform.

U.S. Trade Representative Jamieson Greer said in a statement that he has secured agreements from dozens of countries, including nearly all major trading partners, not to impose tariffs on U.S. digital transmissions. He vowed that if the WTO fails to restore the moratorium, “the United States will work outside of the WTO with all interested partners to get it done.”

Greer, who is the architect of U.S. President Donald Trump’s multi-front tariff assault on global trading partners, said he was disappointed that the meeting ended in an impasse. He said some countries demonstrated a “lack of seriousness” in WTO reform by not sending their trade ministers to Cameroon.

“I have always been skeptical of the value of the WTO, and this week’s conference confirmed that this organization will play only a limited role in future global trade policy efforts,” Greer said.

Increasingly sidelined by economic nationalism

The WTO has been increasingly sidelined by economic nationalism in the past decade, and its 14th ministerial conference in Cameroon will further that trend, analysts said.

The talks tested the WTO’s relevance after a year of huge trade turmoil and more recent disruptions in the Middle East.

Still, a subset of 66 members did agree to sidestep previous hurdles to ‌usher in the world’s first baseline deal on digital trade rules among participants.

The parties of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership — 12 countries including Australia, Britain, Canada, Japanand Mexico but not the U.S. — met with the EU on the sidelines of the WTO talks.

As diplomats pursue a mix of agreements between two or larger subsets of countries, they risk creating a complex “spaghetti bowl” of agreements, said Dmitry Grozoubinski, executive director of the Geneva Trade Platform.

WTO Director-General Ngozi Okonjo-Iweala said the trade body hoped the moratorium could still be restored, adding that Brazil and the U.S. were trying to reach agreement on it.

— Additional reporting by Emma Farge in Geneva and Lisandra Paraguassu in Brasilia and David Lawder in Washington, D.C.

The post U.S. vows to seek WTO alternatives after Cameroon talks break down appeared first on Farmtario.

The government officials, from Canada, Argentina and Brazil, told Reuters they expect the deal to be concluded in 2026, with one noting that talks were progressing well and could be wrapped up before September.

The Argentine government official said that the agreement is expected to be signed in September or October, marking roughly a year since negotiations formally restarted.

Another diplomat, based in Brazil, also told Reuters negotiations are going at a record speed and extremely well, confirming the countries will probably reach a deal this year.

Canadian Prime Minister Mark Carney is expected to visit Brazil in the next quarter, said this source. Although neither government plans to announce an agreement during the visit, it may serve as a push to finalize one as soon as possible, the source said.

Mercosur’s office in Montevideo and the Canadian trade ministry did not immediately respond to requests for comment.

Talks renewed after stall

The renewed momentum follows months of technical exchanges after Canada and Mercosur agreed last year to relaunch the talks that had been stalled since 2021. Mercosur is composed of Argentina, Brazil, Paraguay and Uruguay, with Bolivia expected to become a full member in 2028.

Canada has intensified efforts to diversify trade amid uncertainty linked to tariffs imposed by U.S. President Donald Trump and South America, especially Brazil, said this source, is a trade partner Canada cannot do without. For Mercosur, a major exporter of beef, soy and minerals, an agreement with Canada would expand access to developed markets and help attract investment in key industries such as mining.

Earlier in March, trade officials from Ontario visited Argentina and Uruguay as part of efforts to lay the groundwork for a future deal and showcase support for increased bilateral trade. Ontario’s Minister of Economic Development, Job Creation and Trade, Victor Fedeli, met with technology and mining industry representatives as part of the trip, building on a visit to Brazil late last year.

‘Trump acceleration’ effect

Fedeli said Ontario was stepping up outreach to South America partly due to what he called the “Trump acceleration” effect, noting that roughly 80 per cent of the province’s trade is with the United States.

“We’re building on that momentum,” Fedeli said in an interview with Reuters in Montevideo. “The Canadian government is serious about diversifying away from the U.S., working to unlock new opportunities for trade, partnership, and investment,” he added.

The talks with Canada come after Mercosur signed a trade agreement with the European Union in January, following 25 years of negotiations. Earlier this month the European Commission said key trade elements of the accord, which has proven contentious in Europe, will apply on a provisional basis from May 1.

— Additional reporting by Lucila Sigal in Buenos Aires

The post Mercosur and Canada near free-trade agreement with April talks appeared first on Farmtario.

A U.S. listing for the world’s biggest meatpacker, which the company has sought since 2009, comes as the brothers, now back on the board of JBS, have also recovered much of their vaunted influence among Brazil’s political elite.

Their prominence was on display on Saturday when Wesley Batista, fresh off a trip to Paris with Brazilian President Luiz Inacio Lula da Silva, took the stage to discuss the economic outlook with Brazil’s central bank chief and senior bankers.

‘They’re back because they’re investing’

Batista was in good spirits, pushing back against some of the criticism that Brazilian business leaders have leveled against Lula’s leftist government.

“We need to look at what’s working too, because everyone here is making investment plans and growing,” he told the beachside gathering in Sao Paulo state, drawing applause.

Few business leaders can match the brothers’ access in the capital Brasilia. Lula’s public agenda shows that one or both have appeared alongside the president during at least five public events since last year.

They have also held several private meetings with Lula and his ministers, two people with knowledge of the cabinet’s private schedules said.

JBS said its meetings with public officials adhere to its code of conduct. The presidential press office did not respond to questions about the meetings.

It is a far cry from the brothers’ nadir nearly a decade ago, when they confessed to bribing hundreds of politicians, stepped away from their corporate empire and spent months in jail fighting insider trading allegations.

“They’re back because they’re investing,” said a person close to Brazil’s presidency.

Growing global influence

JBS operates hundreds of meatpacking plants across more than 20 countries, rivaling Tyson Foods in the U.S. beef market and ranking among Brazil’s biggest companies by revenue and employment. The Batistas’ parent company, J&F, has expanded across the Brazilian economy into banking, energy and logistics.

A $5 million donation by JBS subsidiary Pilgrim’s Pride to the Trump-Vance Inaugural Committee underscored the growing global reach of their influence.

U.S. Senator Elizabeth Warren grilled JBS in a public letter last month, suggesting the donation and subsequent approval of the U.S. listing by the Securities Exchange Commission within months “raise serious concerns about a potential quid-pro-quo arrangement.”

In response to questions about the donation, JBS said that Pilgrim’s “has a long bipartisan history of participating in the civic process.”

Operation Car Wash

The brothers’ rehabilitation extends beyond politics.

After years embroiled in Brazil’s biggest-ever corruption scandal, Operation Car Wash, J&F has secured a court order suspending a $2 billion fine for its role in the scheme.

At the height of the scandal, the brothers admitted to bribing some 1,800 politicians. In 2017, Joesley Batista recorded a conversation allegedly discussing a bribery scheme with then-President Michel Temer as part of a plea bargain deal.

The Batista brothers, who stepped away from JBS leadership positions during stretches of the scandal, were later arrested for alleged insider trading based on that sealed plea deal. They were later acquitted in the case.

In 2023, a Brazilian Supreme Court justice suspended the fine against J&F in their plea deal, accepting the argument that prosecutors were biased at the time. The case awaits wider review by the court.

“The conflicts of the past were well handled in a conciliatory way,” said Fabio Medina Osorio, Brazil’s solicitor general during the Temer administration.

The post Brazil beef barons’ Wall Street listing caps a return from exile appeared first on Farmtario.

Topping the list of Mercosur’s most likely new trade pacts next year are deals with the European Free Trade Association of four non-EU nations and with the United Arab Emirates, the diplomats said on condition of anonymity.

Singapore also reached an agreement with Mercosur this year that is being translated so it can be sent to the country’s president and lawmakers for ratification, a diplomat said.

“This is undoubtedly a good time for the Mercosur bloc to move forward with other negotiations. Some countries have already approached us interested in expanding negotiations,” a Brazilian official said.

If the pacts materialize, they would mark a revival for the trade bloc. Mercosur includes South America’s two largest economies, Brazil and Argentina, but has long suffered from internal divisions and skepticism about its effectiveness. Uruguay and Paraguay are also founding members of Mercosur, which Bolivia joined this year.

Norway, one of the non-EU members that is part of the EFTA group, confirmed it is keen to sign an EFTA-Mercosur deal in the first half of 2025.

“A Free Trade Agreement between Mercosur and the EFTA states is a high priority for Norway. I hope to see the negotiations concluded as soon as possible,” Norwegian Minister of Trade and Industry, Cecilie Myrseth, said in a message to Reuters.

“With the trade talks between EU and Mercosur now concluded, it should be possible for EFTA and Mercosur to shortly come to an agreement on the very few outstanding issues,” she added.

For its part, UAE hopes to deepen commerce with the Mercosur bloc “within the next year” with an agreement that would open opportunities for businesses across the Middle East and Latin America, its Trade Minister Thani Al Zeyoudi said in a statement to Reuters.

Threat of Trump tariffs

Threats of fresh tariffs from Trump, who takes office in a month’s time, have also forced the biggest U.S. trade partners to consider their alternatives, even as their priority is defending the U.S.-Mexico-Canada Agreement on trade.

Although Mexico expects a successful review of the USMCA in 2026, it has also begun to explore other options, which include deepening its trade agreement with Mercosur, according to two Mexican government sources.

“In an increasingly divided world where protectionism is gaining strength, President Claudia Sheinbaum wants a more integrated Mexico that can face what is coming,” said one of the sources. “Therefore, the task is to diversify investment, trade and relations as a whole,” they added.

The Mexican presidency and Economy Ministry did not immediately respond to requests for comment.

A Mercosur official said there are also discussions underway for a trade deal with Canada. However, a Canadian diplomat said the focus on USMCA talks may mean other talks have to wait.

“We will be so busy dealing with Trump that our negotiators won’t have time to negotiate with Mercosur,” a Canadian diplomat said.

A spokesperson for Canada’s Global Affairs Ministry said the last round of talks with Mercosur was held in 2019 and “no further rounds are currently scheduled.”

Talks are already underway between Mercosur and South Korea, Vietnam, Indonesia and Lebanon, Brazil’s Foreign Ministry said. Those countries’ embassies in Brasilia did not reply to a request for comment.

“There are other trade partners we want to talk to, especially in Asia,” said another official in Brasilia.

In some cases, talks have hit against resistance from farm lobbies in other countries wary of competing with agricultural powerhouses Brazil and Argentina, a Brazilian diplomat acknowledged.

— Additional reporting by Diego Ore in Mexico City and Nicolas Misculin in Buenos Aires

The post EU deal and Trump tariff threats bolster Mercosur trade talks appeared first on Farmtario.

After negotiations spanning over 20 years, and five years on from an initial deal, European Commission President Ursula von der Leyen and her Mercosur counterparts announced an agreement had been reached in the Uruguayan capital Montevideo.

“This is a win-win agreement,” von der Leyen said in a press conference in Montevideo alongside the presidents of the main Mercosur nations, including Argentina and Brazil.

“This agreement is not just an economic opportunity, it is a political necessity,” she added. “I know that strong winds are coming in the opposite direction, towards isolation and fragmentation, but this agreement is our near response.”

Facing strong pushback against the deal from France and EU farmers, von der Leyen had flown in on Thursday ahead of the summit of the bloc which includes farming powerhouses Brazil and Argentina as well as Uruguay and Paraguay.

France, the most vociferous critic of the deal in the EU, has branded it as “unacceptable”. Underscoring the obstacles it now faces, French Trade Minister Sophie Primas pledged to resist its next stages, citing environmental and farming concerns.

EU farmers in opposition

European farmers have repeatedly protested against an EU-Mercosur deal that they say would lead to cheap imports of South American commodities, notably beef, that do not meet the EU’s green and food safety standards.

Italy said on Thursday there were no conditions for signing off on a deal. Poland said last week it opposed the free trade deal in its current form.

European green groups also broadly oppose the accord. Friends of the Earth calls it a “climate-wrecking” deal.

Conversely, a group of EU members including Germany and Spain say the deal is vital for the bloc as it looks to diversify its trade after the near-closure of the Russian market and discomfort about reliance on China.

They see Mercosur as a market for EU cars, machinery and chemicals and a potentially reliable source of critical minerals, such as battery metal lithium, required for Europe’s green transition.

They also point to agricultural benefits, given the deal offers greater access and lower tariffs for EU cheeses, ham and wine.

The trade agreement would require approval from 15 of the 27 EU members representing 65 per cent of the EU population along with a simple majority in the European Parliament.

South American negotiators remain optimistic that the EU will eventually give its approval and that France will not be able to rally a blocking minority.

The post EU and South America strike trade deal set to hit pushback in Europe appeared first on Farmtario.

Federal Judge Ricardo Leite blocked JBS’s US$300 million sale of the unit to rival Minerva SA, citing a corruption scandal ensnaring JBS’s controlling Batista family, court documents seen by Reuters showed on Wednesday.

In a separate decision, the attorney general’s office urged state auditors to freeze assets of JBS and the Batistas, who own 42 per cent of JBS. The move guarantees that funds reimbursing state lender BNDES for faulty dealings with JBS will be preserved, the attorney general’s office said in a statement.

Common shares in JBS surged 4.3 per cent, while those of Minerva reversed early gains on the judge’s decision. Minerva’s stock shed 2.7 per cent to 11.52 reais as of 4:20 p.m. local time.

Leite, the judge, sits on the court that will review a leniency deal the Batistas reached with prosecutors, and his decision highlights the legal risks for the meatpacker and its founding family.

Last month, Prosecutor-General Rodigo Janot reached a plea agreement with billionaire brothers Wesley and Joesley Batista to avoid prosecution if they turned in 1,893 politicians involved in a bribery scheme.

A separate leniency deal between the Batistas and federal prosecutors was signed on May 31, requiring the family to pay a 10.3 billion reais (C$4.1 billion) fine over 25 years.

The terms of the plea agreement have drawn intense scrutiny after the Batistas alleged that President Michel Temer took part in a bribery scheme, threatening to topple the president and sink his reform agenda.

Leite said in his ruling that the deal to sell JBS beef plants in Argentina, Paraguay and Uruguay could harm the corruption investigation.

In a separate statement Wednesday on the suspension of the beef plants’ sale to Minerva, JBS said it “will take the necessary legal measures in order to appeal the decision.”

— Reporting for Reuters by Lisandra Paraguassu and Cesar Raizer; writing by Marcelo Teixeira and Brad Haynes. Includes files from AGCanada.com Network staff.

The post Brazil blocks JBS deal, seeks asset freeze appeared first on Farmtario.

Separately, police said earlier on Friday they would detain 37 people for questioning and conduct 20 search and seizure warrants as part of a probe into an unnamed meatpacker.

The police source said authorities had issued warrants to bring in for questioning Joesley Batista, the former chief executive of holding company J+F Participacoes SA that controls JBS, and Luciano Coutinho, the former head of BNDES.

Both men are believed to currently be outside Brazil, the source added.

Reports of the investigation sent common shares of JBS down more than three per cent in early trading on the Sao Paulo stock exchange, in a rising market.

Police said in a statement that BNDES subsidiary BNDES Participacoes SA had from June 2007 onwards disbursed loans to fund 8.1 billion reais (C$3.5 billion) of acquisitions of other meatpacking companies.

Police suspect fraud in those transactions, which were approved after “a meatpacking company” hired a consultancy owned by an unnamed lawmaker, the statement said.

According to the police source, former finance minister Antonio Palocci owned the consulting firm. Calls to a lawyer representing Palocci went unanswered.

JBS SA said in a statement that all investments it received from BNDES followed laws and regulations governing capital markets.

BNDES said it was assisting the federal police with their investigation and would make another statement later in the day.

“National champions”

Over the last two decades, JBS relied on public support to fund vast expansion plans as one of the companies handpicked to be “national champions” under leftist Workers Party federal administrations. That strategy has come under scrutiny in recent months.

Prosecutors said JBS’s parent, holding company J+F, paid bribes to politicians to get investments from pension funds of state-run companies.

JBS is also one of the targets of an investigation into alleged bribery of safety and health inspectors, which led several countries to briefly ban imports from Brazil in March.

JBS has repeatedly denied any wrongdoing.

Reuters reported on Wednesday that JBS was considering postponing a New York listing of a global food processing unit originally expected for the second quarter given lukewarm investor feedback amid the scandals.

That would be another blow to efforts by JBS to implement a plan to transform itself into a global food processor. More than two-thirds of its revenue comes from operations outside Brazil.

Weighed down by the series of scandals, common shares of JBS are nearly flat in 2017, lagging a 12 per cent increase of Brazil’s benchmark Bovespa stock index.

— Reporting for Reuters by Lisandra Paraguassu and Pedro Fonseca; writing by Bruno Federowski.

The post Brazil police probe loans to JBS appeared first on Farmtario.