Can BRICS offset the impact of US tariffs on Brazil? Understand

Source: CNN Brasil | Original Published At: 2026-08-01 23:10:55 UTC

Key Points

• The US tariff wave prompted Brazil to seek new markets through a R$130 million Apex Brasil plan scheduled to start in early August.
• Analysts see BRICS, which includes China, Brazil's largest trade partner, as a possible diversification route, but not an immediate or automatic substitute for the US market.
• UNCTAD data show Brazil's intra-BRICS exports rose from US$9.5 billion in 2003 to US$118.6 billion in 2024, while imports rose from US$4.1 billion to US$93.3 billion.
• Sergio Suchodolski said BRICS members represent about 49% of the world's population and 39% of global GDP, and the New Development Bank can finance infrastructure needed for market diversification.
• He added that BRICS is not a customs union, common external tariff area, free trade zone, or set of uniform investment, logistics, sanitary, or public procurement rules.
• Marcio Sette Fortes noted that Brazilian exports to the US include more manufactured goods, while BRICS partners such as China and India mainly buy commodities, limiting substitution capacity.
• Apex Brasil said the diversification plan will focus on the EU, ASEAN, and Central Asian markets, including Uzbekistan and Kazakhstan.