After the agreement with the European Union, Mercosur is now negotiating with Canada, with 60% of the text already concluded. Each new deal reduces relative dependence on any single trading partner, including the United States.

The US decision on a 25% tariff on Brazilian goods lands at a moment when America's share of the country's foreign trade has already fallen to its lowest level on record. The episode confirms that market diversification has stopped being a long-term strategy and become immediate risk management.