Brazil’s Luiz Inacio Lula da Silva insists he doesn’t want to pick between the US and China as his two largest trading partners wage a trade war. But it’s increasingly clear which side he has already chosen.

Brazilian President Luiz Inácio Lula da Silva said Wednesday he will urge Russian President Vladimir Putin to attend possible peace talks with Ukraine’s Volodymyr Zelenskyy, amid mounting suspense over whether the Russian leader would take part in the proposed meeting in Turkey.

Prices will plunge if the United States and China fail to resolve their trade dispute limiting U.S. soybeans from their largest market, agribusiness consultancy AgResource said.

Brazil’s President Luiz Inacio Lula da Silva brushed off concern that the Trump administration would punish his country for building closer ties with China, after a state visit to Beijing that saw him sign more than 30 agreements.

The trade war has heightened China’s need to develop gateways to import the continent’s soybeans, corn and other foodstuffs that are the only viable alternative supply to U.S. exports.

While a plan to create a faster Pacific Ocean route for Brazil-China trade has been under consideration since 2014, it was originally intended to move via Chile. The development of the Chancay Port and other infrastructure in the past few years has opened the door to the new route via Peru.

At news conference in Beijing, Lula says US does not need to be ‘big boss’ or ‘world policeman’ - Anadolu Ajansı

SINGAPORE (Reuters) - Traders have rebranded more than $1 billion of Venezuelan oil shipments to China as Brazilian crude over the past year, according to two tanker tracking firms, company documents and four traders, helping buyers to cut logistics costs and circumvent U.S. sanctions.