Brazilian beef exports to the US have fallen due to Trump’s tariff hikes

According to Reuters, citing the head of Abiek’s local beef lobby, Brazilian beef exports to the US are expected to continue to decline in September compared to the previous month. This is due to the increased tariffs imposed by President Donald Trump on Brazilian goods. Roberto Perosa stated that US beef exports are expected to decline to approximately 7,000 tons in September, down from approximately 9,000 tons in August and 30,000 tons per month before the tariffs took effect in August. The US was the second-largest buyer of beef from Brazil, the world’s largest exporter, behind only China. That changed last month when Mexico took over that position after Trump imposed a 50% tariff on certain Brazilian goods imported from the US. The new duties are in addition to the 26.4% import tax levied on Brazilian beef shipped in excess of the previously established quota. “The loss of our second-largest market is significant,” Perosa said at an event organized by the consulting firm ...