Brazil-U.S. trade slows as exports post 10th monthly decline

Brazil-U.S. trade continued to weaken in 2026, with Brazilian exports to the United States recording their tenth consecutive monthly decline in May, according to the Brazil-U.S. Trade Monitor published by the American Chamber of Commerce for Brazil (Amcham Brasil).

In the first five months of the year, bilateral trade—the sum of exports and imports—totaled $29.5 billion, down 14.3% from the same period in 2025, reflecting declines in both exports and imports.

Brazilian exports to the United States totaled $14 billion from January through May, a 16% decline from a year earlier and the lowest level for the period since 2022, according to Amcham. Brazilian imports of U.S. products also fell, down 12.6% to $15.5 billion. As a result, Brazil’s bilateral trade deficit widened by 43.3% to $1.5 billion.

The findings align with data released last week by the federal government, which showed that the U.S. share of Brazilian exports fell to 9.4% from January through May, down from 12.2% in the same period last year. As Valor reported, this year’s figure is the lowest for the period in the entire historical series maintained by the Foreign Trade Secretariat (Secex), which began in 1997. The decline partly reflects the impact of U.S. President Donald Trump’s tariff policies.

Among the main factors behind the export contraction were lower sales of crude oil, unroasted coffee, semi-finished iron and steel products, and pulp.

According to DataLiner-featured data, Brazil’s two most exported products to the United States were beef and plywood. The chart below shows the top 10, based on Datamar container data:

Top Products Exported to the United States | Jan-Apr | 2026 | TEUs

Source: DataLiner (click here to request a demo)

On the import side, the largest declines were in purchases of engines and machinery, aircraft and parts, and crude petroleum oils.

In May alone, Brazilian exports to the United States totaled $3.1 billion, down 14% from the same month in 2025, marking the tenth consecutive month of decline. Imports also fell 11%, marking the sixth straight monthly decrease.

The report also shows that Brazilian exports to the United States significantly underperformed those to the rest of the world. While Brazil’s total exports increased by 8.7% between January and May, exports to the U.S. market fell 16% over the same period. Products subject to additional tariffs recorded an even steeper decline of 22.6%.

In a statement, Amcham Brasil President Abrão Neto said bilateral trade continues to operate “below its potential.”

“The results for 2026 to date reinforce the importance of advancing ongoing negotiations to avoid new tariffs and create conditions for a recovery in trade between Brazil and the United States,” he said.

The organization also noted that the contraction in bilateral trade coincides with the release of reports from Section 301 investigations conducted by the Office of the United States Trade Representative (USTR). If the measures under consideration are implemented, some Brazilian products could face additional tariffs of up to 37.5%, reducing their competitiveness in the U.S. market relative to competitors from other countries.

Source: Valor International

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