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Minas Registers 50% Drop in Sales to the United States After Tariff Imposed in August 2025
A historic turnaround hit foreign trade in Minas Gerais in August 2025. Exports from Minas Gerais to the United States fell 50.44% in just one month, plummeting from US$ 431.67 million to US$ 213.94 million, according to a survey by the International Business Center of the Federation of Industries of Minas Gerais (Fiemg). The immediate impact of the so-called “tariff boom” led the state to record a deficit of US$ 21 million in its trade balance with the Americans, something that hadn’t happened since 2018.
High Tariffs Impact Strategic Products
The measure from the United States government went into effect on August 6, 2025. The decision raised import tariffs on several strategic products for Minas’s exports from 10% to 50%. As a result, pig iron saw a contraction of 73.62% in shipments compared to July. Coffee, on the other hand, dropped 17.05% in the same period, as the rate was increased to 50%.
Although the overall scenario is one of significant contraction, there was an outlier. Exports of electrical equipment, such as transformers, static converters, and reactance coils, grew 316.19% in August. However, according to Verônica Winter, an analyst at Fiemg, the increase was only temporary. She explained that an executive order published by the White House on July 30, 2025 allowed goods shipped before August 6 and unloaded by October 5 to be taxed at the previous rate of 10%.
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Winter emphasized that, without this early window, the trend is for worsening in the coming months. Thus, the mining industry will need to prepare for even greater losses.
National Decline in Trade with the US
The crisis was not limited to Minas Gerais. Brazilian exports to the United States fell 27.74% in August 2025 compared to July, dropping from US$ 3.82 billion to US$ 2.76 billion, according to data from the Secretary of Foreign Trade (Secex). Moreover, the country recorded a deficit of US$ 1.23 billion for the month.
Compared to August 2024, the decline was 18.54%. Among the most affected sectors on a monthly basis, the following stand out:
- Crude Oil: contraction of 10.07% (exempt from tariffs).
- Aerial Vehicles: drop of 95.75% (taxed at 10%).
- Pulp: decrease of 21.70%.
- Semimanufactured Steel: reduction of 15.30% (taxed at 50%).
- Meats: contraction of 46.26% (taxed at 50%).
- Sawn Timber: decline of 40.88%.
- High-Power Transformers: reduction of 53.97%.
Thus, the impact was not only regional but also national.
Fiemg Demands and State Response
With the direct impact on productive sectors, Fiemg presented in August 2025 a list of emergency measures to the government of Minas and the federal government. Among the proposals is a package of R$ 300 million in Minas Gerais to support affected companies. Additionally, the entity requested tax reductions, contractual adjustments, and measures to alleviate energy, gas, and ICMS costs.
At the federal level, Fiemg advocated for the implementation of antidumping mechanisms. With this, it sought to prevent the entry of foreign products with artificially low prices, ensuring more protection for the national industry.
Federal Government Response
In September 2025, the federal government issued a statement to the newspaper Hoje em Dia reiterating that it maintains constant dialogue with exporting sectors. In response, it launched in August the Brazil Sovereign Plan, aimed at supporting companies affected by the tariff boom.
This plan provides for:
- R$ 30 billion in credit from the Export Guarantee Fund (FGE).
- R$ 10 billion in lines from BNDES, with reduced interest rates.
- Financing for working capital, production modernization, and prospecting for new markets.
- Deferment of taxes, extension of the Drawback, and increase of the Reintegra.
- Government procurement to sustain domestic demand.
However, the government noted that part of the decline noted may have been the result of the anticipation of shipments in July, and not solely due to the tariff increase.
Outlook for the Coming Months
According to Fiemg, the situation is expected to worsen with the end of the early shipping window on October 5, 2025. From that date, all Minas products will be subject to increased tariffs of 50%.
Thus, the scenario represents a significant challenge for the mining industry, which since 2018 had been accumulating surpluses in trade with the US. Now, the sector will need to seek market diversification and adaptation to new international barriers.
Meanwhile, the expectation is that, without changes in US trade policy, the coming months will confirm a period of contraction in external sales, both for Minas Gerais and for Brazil.
Do you believe the Brazilian government should prioritize diplomatic negotiations to reduce tariffs or invest in diversifying export destinations?
Os exportadores mineiros já podem agradecer a família Bolsonaro por tamanho serviço prestado ao país. Voto tem consequências.
Tá fácil pra ninguém …
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