One of the main objectives of the Brazil-Mexico Business Forum is to generate opportunities to diversify exports in bilateral trade.

To this end, a mission made up of 198 Brazilian businesspeople is accompanying Brazilian officials, led by Vice President Geraldo Alckmin.

Brazil-Mexico Business Forum 

This event will take place on Wednesday and Thursday in Mexico City. On the South American side, it is organized by the Brazilian Trade and Investment Promotion Agency (Apex Brasil), in partnership with the Ministry of Development, Industry, Trade, and Services (MDIC) and the Ministry of Foreign Affairs (MRE).

The mission aims to advance bilateral trade negotiations between the two countries, especially in the current context of US tariffs imposed on both Mexico and Brazil. 

The Forum’s program will include a business seminar, sectoral meetings, and technical visits in key areas such as food and beverages, aerospace, technology, energy transition, and health. 

Tariffs

The United States currently applies a 50% tariff on Brazilian products, with some exceptions, effective since August 6. Mexico, in turn, is charged a 25% tariff on products that do not comply with the rules of origin of the Treaty between Mexico, the United States, and Canada.

In addition, US customs applies tariffs on imports of steel, aluminum, copper, cars, and auto parts to these two countries, as it does to virtually the rest of the world.

Important exception: the United States exempts US content from cars originating in Mexico and Canada. It also does not charge tariffs on auto parts from these two countries until it has a methodology for discounting US content.

Geopolitical tensions

In the first half of the year, Brazil exported $5.443 billion to Mexico, a drop of 7.5%, according to Inegi. Mexico sold $1.97 billion to Brazil, a decline of 13.2%. Brazil sends cars, soybeans, chicken meat, and freight vehicles; Mexico sends auto parts, cars, freight vehicles, and computers. Apex identified 434 Brazilian products with high potential, including machinery, chemicals, food, and materials for the 2026 World Cup.

During the same period, Brazil exported $22.011 billion to the United States, an increase of 7.8%. Although cooperation with Washington continues, tensions have arisen. In July, Trump announced 50% tariffs on Brazil and sanctions against its Supreme Court judges.