U.S.–Brazil and U.S.–India Trade Balance Comparison

Here's a comparative overview of the U.S. trade balances with Brazil and India, including recent trends, underlying drivers, and key differences:

🇧🇷 U.S.–Brazil Trade Balance

Current situation (goods only):

As of May 2025, the U.S. holds a goods trade surplus with Brazil of about $3.23 billion** YTD, and **~$ n1.52 billion surplus in Q1 2025 alone ycharts.com.
Throughout 2024, exports to Brazil totaled $49.14 billion**, imports were **$ n42.35 billion, yielding a $6.79 billion annual surplus .
This marks a longstanding surplus position, supported by steady U.S. exports of machinery, aircraft, and agricultural products. Trends & context:
Surplus peaked in Q2 2022 (~ $5.49 B), then moderated to ~$ n1.48 B by Q2 2024 .
Meanwhile, Brazil reported a national trade surplus (~$5.89 B in June 2025), though the U.S.–Brazil bilateral balance remains positive for the U.S. tradingeconomics.com.

🇮🇳 U.S.–India Trade Balance

Current situation (goods only):

As of Q1 2025, the U.S. records a goods trade deficit with India of ** $17.24 billion**, worsening from$ n13.04 B in Q4 2024 ycharts.com.
In 2024, U.S. goods exports to India were $41.8 B**, with imports at **$ n87.4 B, resulting in a $45.7 B deficit ustr.gov. Trends & context:
The U.S.-India trade deficit has been deepening year-over-year. India’s May 2025 data show strong Indian exports to the U.S.— $8.83 B in goods vs just$ n3.62 B of imports—suggesting India is gaining ground timesofindia.indiatimes.com.
Bilateral trade (goods + services) totaled ~$191 B in 2024 and continues to rely heavily on Indian IT and services exports .

🔍 Comparison Summary

Feature	U.S.–Brazil	U.S.–India
Trade Balance (2024)	🇺🇸 Surplus: +$6.8 B	🇺🇸 Deficit: –$n45.7 B
2025 Q1	Surplus: +$1.52 B	Deficit: –$n17.24 B
Drivers	Machinery, aircraft, agri‑exports; stable trade volumes	Major U.S. imports: pharmaceuticals, gems/jewelry, textiles; strong Indian services and tech exports
Trend	Longstanding surplus, relatively stable	Widening deficit, driven by rising Indian exports
Policy context	Trump admin proposals targeting Brazil (tariffs on coffee, beef, etc.) despite U.S. surplus en.wikipedia.org apnews.com	Ongoing BTA negotiations; U.S. seeks better market access amid large deficit

✅ Key Takeaways

U.S.–Brazil: A consistent goods surplus, ~+$6–7 billion annually, driven by stable export strength.
U.S.–India: A significant deficit, ~$45 billion in 2024 and continuing into 2025—reflecting growing U.S. reliance on Indian products and services.
Policy implications:
With Brazil, trade tensions (e.g. 50% tariff threats) appear politically motivated rather than economically (the U.S. already has a surplus) .
With India, the U.S. is pushing for deeper agreements (BTA) to address the sizable and growing trade imbalance economictimes.indiatimes.com.

Would you like a deeper dive into the sectors, historical data by quarter, or implications of these imbalances for policy discussions?Relevant news on U.S. trade with Brazil & India[ Trump's Brazil tariff 'sets a scary precedent' given the U.S. has a trade surplus with the country, economists say

MarketWatchTrump's Brazil tariff 'sets a scary precedent' given the U.S. has a trade surplus with the country, economists sayYesterday](www.marketwatch.com says he will speak to Lula at some point as Brazil downplays tariff impact](www.reuters.com)

ReutersTrump says he will speak to Lula at some point as Brazil downplays tariff impactToday](www.reuters.com US BTA: A strategic crossroad for services sector of both economies](economictimes.indiatimes.com)