TRADE WAR
Why US tariffs leave Brazil’s agribusiness in a political bind
Former President Jair Bolsonaro during the Agrishow, Brazil's largest agricultural event. Photo: Alan Santos/PR
Last week, as the United States enforced 50% tariffs on Brazilian goods, Brazil’s powerful rural caucus — representing agribusiness interests and including 353 of the country’s 594 federal lawmakers — was set to convene and discuss the fallout.
The impact of tariffs is considerable. While some last-minute exceptions offered relief, more than 70% of Brazilian agricultural exports to the US are now subject to the highest rate, according to FGV Agro, a think tank at the Getulio Vargas Foundation.
Congress returned from a two-week recess during which President Donald Trump announced the tariffs. But the rural caucus meeting was canceled. That same day, lawmakers allied with former President Jair Bolsonaro staged a…
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