“Brazil posted a bigger-than-expected trade surplus in August, helped by a jump in exports to the US despite a full month of President Donald Trump’s 25% tariffs,” reports Bloomberg News. The U.S. had a trade surplus with Brazil before imposing big tariffs on it. After the U.S. raised tariffs on Brazilian products, the U.S. actually bought more of them than it did last year:
In August, Brazil, Latin America’s largest economy, “exported $33.2 billion” to other countries, “up 12.2% from a year earlier. Imports totaled $25.8 billion, leaving Brazil with a trade surplus of $7.4 billion, bigger than the $7.1 billion median forecast from analysts in a Bloomberg survey. Shipments to the US in particular rose 12.1% from a year earlier, an unexpected showing after the new levies fueled concerns that Brazilian exporters would lose ground in their nation’s second-largest trading partner. While there are exceptions on specific goods, the tariffs cover a range of Brazilian products….Shipments to the European Union rose 46.4% in August, but Brazil now faces new export restrictions on animal products after failing to meet the bloc’s requirements governing the use of certain veterinary drugs in livestock. The measures could prove particularly painful for Brazil, the world’s largest exporter of beef and chicken. European buyers typically pay higher average prices for Brazilian beef than many other markets.”
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