When imposing a 50% tariff on Brazilian products entering the United States , US President Donald Trump used "unsustainable trade deficits" as one of his arguments against his country. But the cold hard numbers don't back up Trump's words.

If we consider the 25 years of this century, Brazil only had a trade surplus with the North Americans in the first eight, between 2001 and 2008. From then on, there have been 17 consecutive years of negative balance in the exchange of goods, including the accumulated result in 2025 so far ( see table below ).

"Understand that these tariffs are necessary to correct Brazil's many years of tariff and non-tariff policies and trade barriers, which have caused unsustainable trade deficits against the United States. This deficit is a major threat to our economy and, indeed, to our national security!" the US president said in the letter addressed to his counterpart in Brazil, Luiz Inácio Lula da Silva .

However, from 2008 onwards, the last year in which Brazil had a surplus with the US, of US$928 million, the negative balance accumulated by Brazilians in relation to the Americans exceeds US$90 billion.

The Brazilian government had even been using this string of deficits as an argument against the tariffs imposed on the country. Since the BRICS summit in Rio de Janeiro, which brought together non-US-aligned countries such as Iran and resulted in a declaration in favor of the use of a single currency in trade, as well as criticism of US trade policies and American attacks on Iran, Trump's tone against Brazil and BRICS-aligned nations has hardened.

He began making threats and criticizing the trial of former President Jair Bolsonaro . In today's letter, he opens by saying: "I knew and dealt with former President Jair Bolsonaro and respected him greatly, as did most other leaders. The way Brazil has treated former President Bolsonaro, a leader highly respected throughout the world during his term, including by the United States, is an international disgrace. This trial should not be taking place. It is a witch hunt that must end IMMEDIATELY!"