Brazil’s Trade Surplus Grows in August Despite Steeper U.S. Tariffs

By Marcela Ayres

BRASILIA, Sept. 4 (Reuters) – Brazil’s trade surplus jumped 35.8% in August from a year earlier, government data released on Thursday showed, despite steeper U.S. tariffs on goods from the country.

The trade surplus recorded by Latin America’s largest economy reached $6.1 billion.

Unlike the trend seen so far this year, exports grew faster than imports in August. Outbound shipments rose 3.9% to $29.9 billion, supported by higher sales of crude oil, iron ore, soybeans, corn and meat.

Imports fell 2.0% to $23.7 billion.

U.S. President Donald Trump’s administration raised tariffs on Brazilian goods to 50% from 10% starting in August, while expressing support for far-right former President Jair Bolsonaro, who is on trial before the country’s top court over allegedly orchestrating a coup attempt following his 2022 election loss.

Washington excluded several products from the higher tariff, including aircraft and orange juice, but others central to Brazil’s export basket, such as coffee and beef, were hit.

Exports to the United States, Brazil’s second-largest trading partner, fell 18.5% from a year earlier to $2.8 billion, according to the data from the Ministry of Development, Industry, Trade and Services.

Sales to China – Brazil’s exports top destination – rose 29.9% to $9.6 billion. Shipments also surged to Argentina (40.4% to $1.6 billion) and Mexico (43.8% to $790 million), suggesting a possible diversion of goods originally bound for the U.S.

(Reporting by Marcela Ayres; Editing by Leslie Adler and Richard Chang)