Tariffs Cut Brazil’s U.S. Exports as China Trade Hits Record and Iran Penalty Threatens

Overview

• Brazilian exports to the United States fell 6.6% in 2025 to US$37.72 billion as imports from the U.S. rose 11.3% to US$45.2 billion, widening the bilateral deficit to US$7.5 billion.
• Products facing the highest U.S. surcharges declined fastest, with items under 40%–50% duties down 9.5% for 2025 and 21.6% from August to December; Amcham estimates 35.9% of Brazil’s U.S.-bound exports face IEEPA tariffs and 11.9% face Section 232.
• Trump’s November order removed the 10% reciprocal tariff but maintained higher punitive surcharges, adding exemptions such as frozen orange juice and certain food items like canned beef.
• Brazil–China trade reached a record US$171 billion in 2025, including US$100 billion in Brazilian exports driven largely by soy, more than double the US$83 billion total traded with the U.S.
• President Trump announced intent to impose a 25% tariff on countries trading with Iran without releasing formal details; Brazil traded about US$2.9 billion with Iran last year, mostly corn and soy, with producer groups warning of short‑term disruptions and reports that political turmoil in Iran has already stalled most corn deals.