Swedish minister says free trade with Brazil, India and others could offset 75% of exports lost to the U.S.
Europe must reduce its economic dependence on the United States, said Sweden’s Minister for International Development Cooperation and Foreign Trade, Benjamin Dousa, in a firm call for diversification of global trade alliances.
In remarks given during a public economic forum this week, Dousa stated that the European Union is currently negotiating free trade agreements with several key economies, including Brazil, India, Indonesia, and Argentina representing nearly two billion people combined.
“If we sign free trade deals with these countries, it could cover up to 75% of the exports we currently send to the U.S.,” Dousa emphasized.
Strategic Realignment
The comments come at a time of shifting geopolitical dynamics, with European leaders increasingly questioning the bloc’s overreliance on the U.S. market amid growing protectionism and economic volatility in Washington.
Dousa advocated for a pragmatic realignment of trade flows, highlighting Brazil’s growing role on the global stage and Europe’s need to secure access to emerging markets. He also emphasized that free trade stimulates job creation and strengthens the EU’s global competitiveness.
“It’s time to deepen our commercial footprint outside Washington’s orbit,” he concluded.
Brazil’s Role in EU Strategy
The push to formalize a trade deal with Mercosur, the South American trade bloc of which Brazil is a central member, has gained momentum after years of delays. A successful agreement could unlock billions in bilateral trade, enhance cooperation in green technologies, and boost investment in Latin America.
Analysts say Sweden’s positioning is part of a broader European strategy to establish economic resilience in an increasingly multipolar world.
Source: Sputnik Brazil, O Jornal Extra, European Commission, Euractiv.
