US-Brazil Trade Talks: Brazil is pushing for a tariff deal with Washington to block a proposed 25% U.S. surcharge tied to a Section 301 probe, arguing the case is flawed and that Brazil’s average tariff on U.S. imports is just 2.7%; negotiators are working toward a July 15 deadline. Aviation Profit Pressure: At IATA’s Rio meeting, Willie Walsh warned 2026 airline profits could be cut in half as jet fuel prices jump (forecast +70% year-on-year) and geopolitical shocks pile on, with net margins seen falling to around 2%. SAF Push in Brazil: IATA says Brazil has the feedstock and project pipeline to scale sustainable aviation fuel, potentially supporting major SAF output growth and helping global decarbonisation—though supply remains far below demand. Airline Competition: Delta’s president said the carrier wants to overtake United on trans-Pacific scale and become the leading global airline, highlighting new Asia routes and partnerships. World Cup Business Angle (Miami): A study says Miami is the second-most expensive 2026 host city by average ticket price, underscoring how the tournament is reshaping local spending and costs. Codeshare Expansion: WestJet and Icelandair signed a reciprocal codeshare at IATA AGM, aiming to route more Canadian-Europe travel via Keflavík pending approvals.