A surprising first round in Brazil’s presidential election is raising the prospect of a recalibration in trade policy, with a possible Flávio Bolsonaro government likely to deepen ties with Washington while preserving much of the country’s push to diversify markets.

A surprising first round in Brazil’s presidential election is raising the prospect of a recalibration in trade policy, with a possible Flávio Bolsonaro government likely to deepen ties with Washington while preserving much of the country’s push to diversify markets.