Brazil exports to U.S. fall 23% in Jan–Feb to lowest level since 2023

Brazilian exports to the United States fell 23.2% in the first two months of the year compared with the same period in 2025, reaching their lowest level for the period since 2023, according to data from the Brazil–U.S. Trade Monitor compiled by the American Chamber of Commerce in Brazil (Amcham Brasil).

Brazilian shipments to the United States totaled $4.9 billion in January and February 2026, representing a decline of $812 million in sales by Brazilian companies to the U.S. market.

The following breakdown identifies the leading commodities exported from Brazil to the United States in January 2026, measured in Wet Metric Tons (WTMT). These figures are sourced from Datamar statistics:

Top Exports to the US | Jan 2026 | WTMT

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Amcham Brasil said the result reflects a combination of market factors and the impact of tariff measures that continued to affect a significant portion of Brazil’s export basket through the end of February.

Looking only at February, Brazilian exports to the United States reached $2.5 billion, down 20.3% compared with the same month last year.

The chamber also noted that Brazilian exports to the U.S. have now declined for seven consecutive months. The downturn began in August 2025, when the United States imposed import surcharges ranging from 40% to 50% on a wide range of products.

Bilateral trade still under pressure

According to Amcham Brasil, although the February decline was less severe than in previous months, the figures suggest the year began with continued pressure on bilateral trade.

“It is important to note that tariff changes announced at the end of February — following a U.S. Supreme Court decision that ended the 40% and 50% surcharges and introduced a new global 10% surcharge — are not yet fully reflected in bilateral trade statistics,” the chamber said in a statement.

Because the measures took effect only late in the month, their impact is expected to begin appearing in trade flows from March onward.

Amcham Brasil said the drop in February exports was largely driven by a sharp decline in crude oil shipments, which fell 80.7% year-on-year, as well as petroleum products, which dropped 42%. Both products are exempt from the surcharges but represent a significant share of Brazil’s exports to the United States.

Coffee exports, which have been exempt from the surcharges since November, also posted a steep decline of 40% from a year earlier.

Meanwhile, exports of goods subject to the 40% and 50% surcharges through the end of February fell 27.4% in the month, while products affected by Section 232 tariffs — such as certain wood products — recorded even steeper declines.

Amcham Brasil President Abraão Neto said that because February data do not yet capture the impact of the tariff reduction following the Supreme Court ruling, it will be important to monitor whether the policy change helps improve Brazilian export performance and bilateral trade flows in the coming months.

Source: Valor Econômico

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