<ul data-eligibleForWebStory="false"><li>Brazil is gearing up to protect its oil export sector as U.S. President Donald Trump threatens a 50% tariff on Brazilian imports effective August 1.</li><li>Oil is Brazil's top export to the U.S., exempt from the 10% tariff on other goods; concerns arise over the prospect of disruption but limited long-term damage.</li><li>Analysts suggest Petrobras, Brazil's largest oil producer, may remain largely unaffected by the tariffs as only a small portion of its exports go to the U.S.</li><li>Brazilian Petroleum Institute expresses concern and calls for diplomatic resolution; Brazil considers appealing to the World Trade Organization as it studies potential responses.</li></ul>

Oil at the Center as U.S. and Brazil Edge Toward a Trade War

Discover more