Sure. First I'll touch on the point you raised about their relationship with Mercosur, because that's important to the approach we're taking with them.
Mercosur is a customs union, and they will only negotiate free trade agreements as a bloc. If you're going to negotiate a free trade agreement with Brazil, you have to negotiate with Brazil, Argentina, Uruguay, and Paraguay. So we're in discussions with all four, but as you point out, there are a lot of open questions about how serious they are about free trade.
I think it's clear that there's a lot of economic opportunity, but we are really in the early stages now of feeling out how interested they are, what they would be interested in doing, and the type of approach they might consider taking. We're really in the early days and are having some technical exchanges, but it's a little early to speculate about the likelihood of launching a full-fledged negotiation.