Brazil's August exports to the United States dropped significantly.

The Ministry of Development, Industry, Trade and Services of Brazil recently released data showing that in August, Brazil's exports to the United States decreased by 18.5% year-on-year due to the impact of the high tariffs imposed by the United States. In August, Brazil's exports amounted to $29.9 billion, an increase of 3.9% year-on-year; imports amounted to $23.7 billion, a decrease of 2% year-on-year. Among them, Brazil's exports to the United States decreased for products such as iron ore, sugar, and airplanes, causing Brazil's exports to the United States to drop from $3.39 billion in the same period last year to $2.76 billion. At the same time, Brazil's exports to China, India, Mexico, and Argentina increased by 31%, 58%, 43.8%, and 40.4% respectively. In the first 8 months of this year, Brazil's total exports amounted to $227.6 billion, an increase of 0.5% year-on-year; total imports and exports reached $412.4 billion, an increase of 3.2% year-on-year. Since August, the United States has imposed a 40% ad valorem tariff on Brazilian products exported to the United States, and currently, most Brazilian products exported to the United States face a tariff rate as high as 50%.