financetom
Business
financetom
/
Business
/
Brazil's beef companies breathing easy over prospect of new Trump tariffs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Brazil's beef companies breathing easy over prospect of new Trump tariffs
Jan 22, 2025 1:16 PM

SAO PAULO, Jan 22 (Reuters) - Brazilian beef companies

do not expect to be hurt by potential new tariffs from President

Donald Trump's administration because of low inventories of

cattle in the U.S. and a sizable tariff that already exists on

these exports.

Roberto Perosa, head of the Brazilian beef exporters association

ABIEC, said in an interview on Wednesday that Brazilian beef

exports outside a 65,000-ton annual quota already are slapped

with a 26.4% tariff when entering the U.S.

His remarks suggest Brazil, the world's largest beef

exporter, will remain a key U.S. supplier despite any

protectionist rhetoric from the Trump administration.

Brazilian companies exported $1.3 billion worth of beef

products to the U.S. last year.

"I think the U.S. is in a difficult moment relative to its

livestock cycle, and (will remain so) at least for the next two

years," said Perosa, who leads the powerful beef lobby that

represents firms like JBS and Marfrig,

both of which have U.S. operations.

Brazil exported some 230,000 tons of fresh and processed beef to

the U.S. last year, up almost 66% from 2023, with most of it

paying the hefty tariff, Perosa said, citing trade data.

Scarcity of cattle in the U.S., where inventories have hit the

lowest level in seven decades, means U.S. buyers will need to

secure a reliable partner for large beef volumes. "That partner

is Brazil," Perosa said.

Brazil has tried to negotiate an increase of the tariff-free

quota to 150,000 tons with the U.S., but the state of the talks

is unclear following Trump's return to the White House earlier

this week, Perosa said.

The U.S. is Brazil's second-largest export destination for beef

after China, and is also the South American country's

second-largest trade partner overall.

Brazil pays a 12% tariff to export beef to China, which took in

$5.4 billion worth of the South American country's beef last

year, Perosa said, citing trade data.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved