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China and Brazil have agreed to abandon the U.S dollar in their trade transactions and use their own currencies the Yuan and the real instead the deal announced after a high-level China Brazil business Forum in Beijing is expected to reduce costs and promote greater bilateral trade and investment China is Brazils largest trading partner accounting for over a fifth of All Imports and More Than a third of all exports the move comes after a period of Rocky relations between Brazil and China under former president J.R bolsonaro who used anti-china rhetoric on campaign Trail and in office