Contributions from Carin Zissis
President Bush signed documents to submit legislation for congressional approval of the U.S.-Colombia trade pact. The deal faces challenges in Congress, despite loosening trade restrictions for U.S. exports to Colombia.
A proposal to create a South American defense alliance arose last week during a Brazil-Venezuela summit. As tensions between Ecuador and Colombia continue, Brazilian officials recommend a defense board to mediate in regional disputes.
With Brazil's economy holding steady in the face of worldwide financial worries, the country could play a leadership role on matters ranging from trade to economic policy. Yet concerns about a possible global downturn remain.