Brazil will establish a tax advisory office in China, the Brazilian Finance Ministry said, highlighting the strategic importance of the move as the two nations deepen their ties.

Chinese investments could play a crucial role in enabling Brazil to boost its industrial capacity and diversify economy.

In a bold move with far-reaching implications, China and Brazil have agreed to trade directly using their own currencies,bypassing the U.S. dollar. This development challenges the dollar’s long-held position as the world’s dominant reserve currency and signals a potential shift in the global financial order.

Senator Lindsey Graham (R-S.C.) issued a stark warning to China, India, and Brazil, indicating that they could face severe economic consequences for continuing to purchase Russian oil.

China wants to dominate the market for the cars of the future, and it has set its sights on Brazil’s giant auto market.

Donald Trump plans to impose a 100 per cent tariff on oil-related imports from those nations as a way to cut off financial support to Russian President Vladimir Putin.

Brazil is pivoting toward China and other Asian markets as it seeks to shield its powerhouse beef export industry from the impact of higher US tariffs set to take effect in August.

US Senators Graham and Blumenthal, along with former President Trump, have warned India, China, and Brazil of potential economic sanctions, including tariffs up to 500%, for continuing to purchase discounted Russian oil and gas.

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Signed between Infra S/A, a Brazilian state-owned company, and China Railway Economic and Planning Research Institute, the project will take advantage of existing tracks and connect them to new ones, forming a complete 5,000-kilometer route across the northern part of the subcontinent.