Opportunities and Challenges of Brazil-China Trade under the Impact of US Tariffs

Contributing sentiments towards policy:

56% : For example, in October 2024, Brazil implemented a new tax policy, canceled the original favorable policies, and imposed tariffs and anti-dumping duties on many goods from China.
54% : At the same time, within the framework of their strategic cooperative relationship as a community of shared destiny, China and Brazil have signed agreements or memorandums of cooperation in various sectors, including agriculture and livestock, agricultural products and technology, mineral energy, bio-economy, ecological transformation, green development, digital economy, artificial intelligence, and the photovoltaic industry.[3]These developments have significantly advanced bilateral economic and trade relations, benefiting technology companies that provide innovative solutions for fundamental industries such as mining and agriculture, as well as for consumer electronics, represented by smart terminals and smart homes, and digital technologies, including new energy vehicles, artificial intelligence, and e-commerce.
54% : The main aspects of China-Brazil bilateral trade in 2024 are outlined below: Table 2: Comparison of China-Brazil Economic and Trade Advantages 2.2.1 Brazil's Core Exports to China: Soybeans, Oil, Meat, and Ore According to China's General Administration of Customs, China's total imports from Brazil in 2024 amounted to RMB 825.84 billion (USD 116.09 billion), down 4.4% from the previous year.[6]
53% : The United States' influence over the Panama Canal also introduces a degree of uncertainty into China-Brazil trade. 3.2.2. .Brazil's Industrial Policy Brazilian economy has strong state influence, which balances the private sector interests, the political and social agendas.
50% : The two sides have a large space for industrial cooperation and complementary advantages, do not compete in the international market on their exports, nor have conflicting interests in the geopolitical agenda, and this is unlikely to change in the next several decades 3.1.1 Policy Advantages With the integration of the Belt and Road Initiative and Brazil's development strategy, China and Brazil have signed a series of cooperation memoranda in areas such as economy, trade, finance, science and technology, infrastructure and environmental protection, providing policy support for the expansion of bilateral trade.
45% : Over the past decade, bilateral trade between China and Brazil has maintained an impressive average annual growth rate of 10%, despite the overall downturn in global trade.
40% : The major milestones in the bilateral relationship are as follows: Over the past two years, economic and trade cooperation between China and Brazil has entered a new phase.
36% : The deepening cooperation between China and Brazil reflects the inherent dynamics of global trade.

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