FGV/Icomex: high tariff affected Brazil's exports to the USA, but there was progress in global terms

By Daniela Amorim Rio, 12/18/2025 - The tariff imposed by United States President Donald Trump on products exported by Brazil reduced Brazilian sales to the Americans, but the loss was offset by an increase in shipments to other trading partners, particularly China. This assessment is from the Foreign Trade Indicator (Icomex) report released this Thursday, 18, by the Brazilian Institute of Economics of the Getulio Vargas Foundation (Ibre/FGV). "In addition, in November, the thaw in relations between Brazil and the United States began, which led to favorable movements for Brazil. On November 14, the United States government announced the exemption of reciprocal tariffs of 10% on 238 agricultural products, which benefited all countries. On November 20, the removal of the tariff of 40% on 269 products was announced, 249 of which were from the agribusiness sector. The effects of this removal will only be visible from December/January," pointed out FGV. The Brazilian trade balance is ...