Brazil Posts $6.96 Billion October Trade Surplus as U.S. Tariffs Slash Exports to America

Overview

• MDIC data show exports at $31.98 billion and imports at $25.01 billion in October, producing a $6.96 billion surplus that ranks as the second-largest for the month on record.
• Sales to the United States fell 37.9% to $2.21 billion after an August tariff package of up to 50%, while Brazilian imports from the U.S. rose 9.6% to $3.97 billion.
• Brazil posted a $1.76 billion trade deficit with the U.S. in October, lifting the year-to-date bilateral shortfall to a little over $7 billion.
• Gains to other partners helped offset the U.S. drop, with China up 33.4% and broader increases across Asia and Europe led by soy, iron ore, petroleum and beef.
• MDIC officials cite tariffs plus weaker U.S. demand and caution that industrial goods are harder to reorient, as Amcham Brasil presses for renewed commercial talks.