US share of Brazil exports drops to lowest since 1997

Top-tariff Brazil goods to US fall 31.5% this year

The U.S. share of Brazil’s total exports fell to 9.4% during the first half of 2026, the lowest level since the data series began in 1997, according to the latest edition of AmCham Brazil’s U.S.-Brazil Trade Monitor.

Brazilian exports to the United States fell 12.2% in the first seven months of the year, totaling $21 billion against the same period a year earlier. The $2.9 billion decline brought shipments to their lowest level in three years.

Products facing the highest additional tariffs imposed by the Trump administration recorded the steepest losses. Exports of those goods fell 31.5% so far this year to $3.2 billion from $4.6 billion a year earlier. Products recording some of the largest declines include crude oil, semi-finished iron and steel products, beef tallow, plywood, doors, tobacco, softwood, granite, faucets and fruit juices.

U.S. tariffs on Brazilian goods range from 25% to 37.5% and trace to two authorities in U.S. trade law: Section 232, which covers national-security issues involving steel and aluminum, and Section 301, which addresses unfair foreign trade practices.

Imports changed course in July. After seven consecutive months of declines, Brazilian purchases of U.S. products rose a modest 0.6% to $4.3 billion. During the first half of the year, Brazilian imports of U.S. products fell 10.4% to $23.2 billion.

With exports declining, Brazil recorded a $2.3 billion trade deficit with the United States from January through July, an increase of 122.3% compared with the same period in 2025.

While exports to the United States contracted, Brazil’s overall exports to the rest of the world grew 10.5% during the same period, reflecting a shift toward other markets, including China.

“The figures show a significant loss of momentum in bilateral trade, with a more pronounced impact on products subject to the highest tariffs,” AmCham Brazil President Abrão Neto said. “As long as the current tariff environment persists, the trend is for trade between the two countries to continue losing momentum, to the detriment of both economies.”