On July 9, 2025, the United States announced a tariff increase of up to 50% on Brazilian imports into the country, motivated by three main (explicit) issues: the bilateral trade deficit, protection of American industry and legal uncertainty in Brazil.

Seeking to understand the real impact of tariffs and what stance to expect from the Brazilian government, we analyzed the drivers in more depth.

We explore: the dynamics of the trade balance between Brazil and the US, the main products exported by Brazil to the US market, and the possible economic consequences of these actions, such as the redirection of exports, the impact on companies' margins, and the growing pressure for compensatory measures by Brazil.