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Brazil reevaluates US beef exports after tariff shock
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The Cattle Site
Brazil reevaluates US beef exports after tariff shock Meatpackers halt shipments as 50% duty chills marketBrazilian meatpackers are weighing whether to make new shipments of beef products to the United States after President Donald Trump announced a 50% tariff on Brazil last week, Reuters reported, citing Roberto Perosa, president of Brazilian beef lobby ABIEC, as its source.
The United States is Brazil's second most important beef products market after China, according to trade data.
Brazil, the world's largest beef exporter, accounts for some 23% of US beef imports, according to calculations by Genial Investimentos.
A persistent shortage of cattle in the US increased the country's demand for Brazilian beef imports, trade data shows.
According to analysts, the new tariff could make beef more expensive for US consumers.
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