India, Brazil Explore Trade Boost Amid United States Tariff Hike.

India and Brazil have held discussions on ways to boost bilateral trade and investment in the backdrop of the Trump administration's increase in import tariffs. Officials of the two nations met here on Tuesday under the India-Brazil Trade Monitoring Mechanism (TMM) to discuss the fallout of the additional US tariffs. The TMM mechanism provides a platform for the two countries to discuss trade-related issues, identify areas of cooperation and address trade concerns. The meeting focused on expanding the preferential trade agreement between India and the South American trading bloc MERCOSUR, according to an official statement by the Brazilian government. The sides also explored ways to enhance collaboration in key sectors such as pharmaceuticals, chemicals, MSMEs (micro, small and medium enterprises) and finance. The talks, led by Indian commerce secretary Rajesh Agrawal and Brazilian secretary of foreign trade Tatiana Lacerda Prazeres, marked a significant step towards strengthening trade relations between the two nations, officials said.

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