U.S.-listed shares of Brazilian firms fall premarket after Trump announces 50% tariffs on goods imports; Itau Unibanco down 2.7%, Banco Santander down 2.4%, Petrobras down 0.9%, NU Holdings down 0.7%

U.S.-listed shares of Brazilian firms fall premarket after Trump announces 50% tariffs on goods imports; Itau Unibanco down 2.7%, Banco Santander down 2.4%, Petrobras down 0.9%, NU Holdings down 0.7%

U.S.-listed shares of Brazilian firms have fallen premarket following President Donald Trump's announcement of a 50% tariff on Brazilian goods imports, effective August 1. The tariffs are separate from existing sector-specific tariffs and are aimed at addressing Brazil's "unfair" trade practices and alleged violations of free speech rights.

The impact on Brazilian companies is evident in the premarket trading session. Itau Unibanco (ITUB) has fallen 2.7%, Banco Santander (SAN) is down 2.4%, Petrobras (PBR) has declined by 0.9%, and NU Holdings (NUH) has dropped 0.7%. The tariffs have caused significant market volatility, with investors reacting to the potential impact on the profitability of these companies.

President Trump cited Brazil's treatment of former President Jair Bolsonaro and its alleged attacks on free elections and free speech rights as reasons for the tariffs. The announcement follows a series of similar trade actions against other countries, including Libya, Iraq, Algeria, Moldova, Brunei, and the Philippines.

The Brazilian real currency has also been affected, falling over 2% against the dollar following the announcement. The currency's depreciation is a direct result of the increased uncertainty surrounding Brazil's trade relations with the United States.

The tariffs are expected to have a significant impact on Brazil's export industry, potentially leading to higher costs for U.S. consumers. However, the long-term economic implications of these tariffs remain uncertain, and analysts are closely monitoring the situation.

[1] https://www.foxbusiness.com/politics/trump-announces-sweeping-50-tariff-all-brazilian-imports-starting-august-1
[2] https://www.tradingview.com/news/reuters.com,2025:newsml_L6N3T60U0:0-brazil-s-real-tumbles-over-2-after-trump-slaps-50-tariff-to-brazilian-goods/
[3] https://seekingalpha.com/news/4466097-kkr-brazils-itau-unibanco-to-develop-private-investments-for-wealth-and-institutional-clients