Brazil exhausts all avenues to avoid 50% surtax in the US

As of press time, there was still no definition on whether Brazil and the US would reach an agreement to prevent the 50% surtax on Brazilian products from taking effect this Friday, August 1—a measure that could cause major distortions in the global beef trade, as it would virtually exclude Brazil from the US market (with a total tariff of 86.4%), its second-largest destination so far this year.