On Thursday, the Ibovespa index trimmed its early losses, ending the session slightly down at 131,141. This outcome was influenced by the less severe tariffs imposed by the United States on Brazilian products, especially when compared to the significantly higher tariffs on goods from China (54%), the European Union (20%), and Japan (24%). Although the overall 10% tariff introduces challenges in terms of competitiveness, Brazil stands to potentially expand its market share in the agricultural and commodities sectors due to its comparatively favorable position. Investor confidence was further bolstered by the prospect that retaliatory actions from China and other nations could potentially reroute investment towards Brazil.
However, the intensifying global trade tensions do present notable risks, with projections indicating a possible 0.5 percentage point negative impact on Brazil's GDP. Additionally, President Lula's commitment to implementing countermeasures adds a layer of uncertainty, although Brazil's advantageous stance has been positively received by the markets. Despite the overall market's optimism, key companies such as Petrobras (-3.5%), Vale (-3.6%), and Suzano (-4.4%) saw declines as a result of weaker commodity prices, while most other sectors experienced gains.
