Brazil-U.S. Trade Hits Record $20 Bln in Q1 Despite Tariff Tensions; Brazil Posts Deficit

Trade between Brazil and the United States hit a record high in the first quarter of this year, according to data released on Monday (April 14) by the American Chamber of Commerce for Brazil (Amcham Brasil).

This positive result comes amid trade tensions resulting from the “tariff surge” (tarifaço) imposed by U.S. President Donald Trump on much of the world, affecting Brazil—especially on products like steel and aluminum.

According to the “Brazil-U.S. Trade Monitor,” published quarterly by Amcham, total trade flow reached US$ 20 billion between January and March 2025.

This is the highest value ever recorded for the period since the beginning of the historical series, representing a 6.6% increase compared to the same quarter in 2024.

“The result reinforces the strength of the bilateral relationship and the dynamism of trade between the two countries. Highlights include the strong performance of Brazilian industry exports and the growth in imports of high-value-added goods, especially in technology and energy,” Amcham Brasil stated.

According to data from Brazil’s Ministry of Development, Industry and Foreign Trade (MDIC), Brazilian exports to the U.S. totaled US$9.65 billion in the first quarter of this year, while imports reached US$10.3 billion.

As a result, Brazil recorded a trade deficit of US$ 654 million.

Check the chart below for the main products exported from Brazil to the United States in the first month of 2025. The data is from DataLiner:

Main Products Exported from Brazil to the U.S. – Jan 2025 – TEU

Source: DataLiner (click here to request a demo)

“The first-quarter results of 2025 reinforce the quality and mutually beneficial nature of the trade relationship between Brazil and the United States. Companies engaged in this relationship are eager to expand bilateral trade and investment further,” said Abrão Neto, president of AmCham Brasil.

Amcham emphasized maintaining a predictable, transparent, and constructive trade environment based on dialogue between the public and private sectors.

“It is essential to preserve the conditions for trade between Brazil and the United States to continue generating innovation, jobs, and development for both countries,” Abrão Neto concluded.

U.S. Tariff Surge

The U.S. government announced in March an increase in tariffs on steel and aluminum, impacting Brazilian exports of these products, which became more expensive.

Earlier this month, Herlon Brandão, Director of Statistics and Foreign Trade Studies at the Ministry of Development, said that the March trade balance could have been influenced by the U.S. decision to raise tariffs on Brazilian steel and aluminum.

“It may have had an impact, but we still can’t perceive the direct effect of the tariff increase [on steel and aluminum],” said Brandão at the time.

Last week, Donald Trump announced the imposition of tariffs on countries that, in the White House’s view, are “stealing” from the U.S. in trade relations. Brazilian products received the lowest rate of 10%.

Since the announcement, countries like China and blocs like the European Union have begun coordinating a response to the tariff surge. In addition, Mexico and Canada have already announced countermeasures in recent weeks.

On Thursday (April 10), Trump backtracked and said he would pause the reciprocal tariff program for 90 days, reducing import tariffs to 10% for all countries except China.

In China’s case, U.S.-imposed tariffs will increase to 145%, prompting Beijing’s retaliation. On Friday (April 11), China announced another countermeasure, and its tariffs on U.S. goods have now reached 125%.

Exports and Imports in the Quarter

According to Amcham Brasil figures, Brazilian industrial exports to the U.S. totaled US$7.8 billion between January and March, the highest value ever recorded for the first quarter.

The organization added that this solidified the U.S. as the leading destination for Brazilian industry, now representing 18.1% of total industrial exports (up from 17.7% in the same period in 2024).

Top Export Highlights:

• Juices (+74.4%)
• Fuel oils (+42.1%)
• Unroasted coffee (+34%)
• Aircraft (+14.9%)
• Semi-finished iron or steel products (+14.5%)

Beef entered the list of the top ten products exported to the U.S., with a significant increase of 111.8%, ranking 9th.

Imports

According to Amcham Brasil, manufactured goods dominated Brazilian purchases from the U.S. (89.2%), highlighting machinery, pharmaceuticals, petroleum, and data processing equipment.

Crude oil imports rose 78.3%, reversing a previous downward trend and boosting the energy sector. In contrast, natural gas imports declined, reflecting lower demand at the start of the year.

Source: G1

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