Brazil's Exports to US Fall 20.3% in September Due to Tariff Impact

People's Finance News, October 7 - Brazil's Ministry of Development, Industry, Trade and Services announced on October 6 local time that Brazil's exports to the United States in September reached approximately $2.58 billion, compared to about $3.23 billion in September last year, representing a year-on-year decrease of 20.3%. During the same period, Brazil's imports from the United States increased from $3.8 billion to $4.35 billion, a rise of 14.3%. Brazil's trade deficit with the US reached $1.77 billion in September, not only marking the ninth consecutive month of deficit but also setting the highest deficit record so far this year.

Since August 6 this year, the United States has imposed a 40% ad valorem tariff on Brazilian products exported to the US, affecting nearly 35% of Brazil's total exports to the United States. In September, Brazil's global export total reached $30.5 billion, while imports totaled $27.5 billion. On October 6, Brazilian President Lula held a half-hour phone conversation with US President Trump, during which Lula formally requested the US to cancel the additional tariffs on Brazil.