Trade between Brazil and the US fell 14.3% in the year to May, says Amcham.

Trade between Brazil and the United States will continue to slow down in 2026, according to the latest edition of the Brazil-US Trade Monitor, prepared by Amcham Brazil. In the first five months of the year, bilateral trade totaled US$29.5 billion, a 14.3% decrease compared to the same period in 2025, reflecting the simultaneous contraction of exports and imports. Brazilian exports to the United States totaled US$14.0 billion between January and May, a 16% decrease compared to the same period last year and the lowest value for the period since 2022. Brazilian imports of US products also registered a decrease of 12.6%, totaling US$15.5 billion. As a result, the Brazilian deficit in bilateral trade increased by 43.3%, reaching US$1.5 billion. Among the main factors explaining the decline in exports are the drops in sales of crude oil, unroasted coffee, semi-finished iron or steel products, and cellulose. On the import side, the reductions in purchases of engines and machinery, aircraft and parts, and crude oil stand out. In May, Brazilian exports to the United States reached US$3.1 billion, a 14.0% decrease compared to the same month in 2025, marking the tenth consecutive month of decline. Imports fell by 11.0%, registering the sixth consecutive month of decline. “Bilateral trade continues to operate below its potential. The results for the accumulated period of 2026 reinforce the importance of advancing ongoing negotiations to avoid new tariffs and create conditions for the resumption of trade between Brazil and the United States,” says Abrão Neto, president of Amcham Brazil. The survey also shows that Brazilian sales to the United States performed significantly worse than Brazilian exports to the world. While Brazil's total exports grew 8.7% between January and May, sales to the US market fell 16% in the same period. Products subject to additional tariffs registered an even more intense decline of 22.6%. This scenario occurs amidst reports released as part of the Section 301 investigations conducted by the United States Trade Representative (USTR). If the measures proposed in these reports are confirmed, certain Brazilian products could face additional tariffs of up to 37.5%, reducing their competitiveness in the US market compared to competitors from other countries.

This text was translated by machine from Brazilian Portuguese.