Paraguay Bets on Brazil to Help Weather US-China Trade Spat

Paraguay is betting that closer ties with Latin America’s largest economy Brazil will allow it to weather the trade war between Washington and Beijing, Finance Minister Carlos Fernandez said in an interview on the sidelines of the IMF and World Bank annual meetings in Washington.

Paraguay is among the countries whose goods now pay a 10% tariff to enter the US, while its diplomatic ties with Taiwan mean it can’t directly sell its soy and beef to China.

“If there is a problem trading from South to North, we have to start thinking about trading South to South,” Fernandez said ...