Brazil warns of $1B hit from US beef tariff threat 50% levy could halt exports, fuel US beef inflationBrazilian beef-packers' lobby Abiec, which represents companies including JBS and Marfrig, on Tuesday estimated losses of $1 billion if the United States applies a 50% tariff on Brazilian exports, reported Reuters. The U.S. is Brazil's second biggest beef export destination after China. Roberto Perosa, head of Abiec, said Brazilian beef companies had expected to sell some 400,000 tons by yearend to the US, but imposition of a 50% tariff would make sales "inviable." Brazilian beef-packers exported around 181,000 metric tons of beef worth $1 billion to the US in the first half of this year, according to trade data, equivalent to around 12% of the country's total beef exports. He said a lack of Brazilian exports would spur domestic beef inflation in the US, which has been grappling with scarce cattle supplies and has been increasingly relying on beef imports.