The Real Numbers — And Where the Public Record Gets MisquotedThis is where a lot of commentary on Brazil's tariff situation goes wrong, so it's worth being exact. According to Global Trade Alert's analysis of the final order, Brazil's trade-weighted U.S. tariff stood at 11.0% before July 22. The July 24 forced-labor Section 301 tariff that hit Brazil at 12.5% doesn't touch USMCA-qualifying Mexican goods at all; they're explicitly exempted. That protection has limits: Mexican autos, steel, aluminum, and copper still face separate 25-50% sectoral tariffs no matter their USMCA status. But on the broad measure that matters for most exporters, Mexico is paying roughly a fifth of what Brazil is paying.