Brazil launches BRL 130M export diversification plan
Following the United States’ imposition of additional tariffs on some Brazilian exports, the Brazilian Trade and Investment Promotion Agency (ApexBrasil) announced a BRL 130 million plan to diversify the country’s export markets and mitigate the impact of the US tariffs. The initiative will be launched in August.
ApexBrasil, which is affiliated with the Ministry of Development, Industry, Trade, and Services, stated that the plan will be launched in partnership with 57 economic sectors across the country, representing 2,400 exporting companies.
“We’re already expanding into other markets. What we’re going to focus on now is diversification. It’s a fresh perspective on the new opportunities arising from the changing landscape of international trade,” ApexBrasil President Laudemir Müller explained during a press conference on Friday (Jul. 17).
The head of the state agency said the priorities are the European Union market - not least because of the recent agreement with Mercosur - and the countries of the Association of Southeast Asian Nations (ASEAN), including Indonesia, Malaysia, Thailand, and Vietnam, which are experiencing strong economic growth.
Central Asian countries, such as Kazakhstan and Uzbekistan, are also among the potential new markets to be explored by Brazilian companies affected by the US tariff hike.
“These are countries experiencing strong growth and development. They have been actively seeking investment partnerships with Brazil and are growing at annual rates of 7 percent or 8 percent [of Gross Domestic Product, GDP]. They also have young populations and strong demand for products Brazil has to offer,” Müller pointed out.
Trump’s tariff hike
On Wednesday (15), the Office of the US Trade Representative (USTR) confirmed an additional 25 percent tariff on Brazilian products, citing alleged “unfair” trade practices by Brazil.
The Brazilian government rejects the justifications for the tariffs, arguing that the measure is politically motivated and that Washington demanded full access to the Brazilian market without offering anything in return. The new tariffs will take effect on July 22.
The head of the Brazilian export agency noted that exports to the United States fell by approximately USD 2.6 billion in the first half of the year as a result of the tariffs previously imposed.
“But we saw exports to Europe increase by USD 3.1 billion, to India by USD 2.5 billion, and to China by USD 10.5 billion, just to name a few of the most important destinations,” Laudemir Müller added.
Mercosur’s negotiations with India, Japan, and Canada were also cited as opportunities to diversify Brazil’s trade and reduce its dependence on the United States.
Export diversification already underway
The president of ApexBrasil emphasized that this diversification effort has been underway since the United States first imposed tariffs in 2025.
“This means that 72 percent of the 2,400 companies that export to the US and are supported by ApexBrasil have already diversified their export markets between June 2025 and May 2026. During that period, they added at least one new export destination,” he said.
According to Müller, some markets are easier to enter, while others will require medium- or long-term efforts.
“There are other sectors that will take a little longer and may be more complex. Often, we even need to create a market in another country. We’ll have to reach out to the Chinese market, for example, and say, ‘Look, there’s a Brazilian rock with such-and-such characteristics that could also serve your market,’” he explained.
Brazil is sought after worldwide
Despite the difficulties, the head of ApexBrasil believes that the country has established itself globally as a “friendly, stable supplier.”
“In fact, we received USD 77 billion in investment inflows last year, making us the fifth-largest recipient in the world. Developing countries saw a 2 percent increase, while Brazil recorded a 22 percent rise and is already the leading destination for Chinese investment,” Müller concluded.
