US market “completely frozen”

Far from showing any activity after the confirmation of the increased tariff on Brazilian beef, the US import market was “completely frozen” last week, according to a trader who regularly operates in this market. He said this is because several buyers interpreted that the entry into force of the tariff —starting August 6— might leave room for some sort of reversal of the measure imposed by President Donald Trump. In fact, in Brazil, there are agents who say that negotiation is not closed (see Brazil section).