Fact Check: The U.S. has a goods trade surplus with Brazil totaling 7.4 billion in 2024.

Fact Check: "The U.S. has a goods trade surplus with Brazil totaling 7.4 billion in 2024."

What We Know

In 2024, the United States recorded a goods trade surplus with Brazil amounting to $7.4 billion. This figure represents a 31.9% increase from the previous year, 2023, where the surplus was approximately $5.6 billion (U.S. Trade Representative). The total goods trade between the U.S. and Brazil was estimated at $92.0 billion, with U.S. exports to Brazil reaching $49.7 billion and imports from Brazil totaling $42.3 billion (U.S. Trade Representative).

Analysis

The claim that the U.S. has a goods trade surplus with Brazil of $7.4 billion in 2024 is supported by multiple credible sources. The U.S. Trade Representative's report explicitly states this surplus and provides context about the increase compared to the previous year (U.S. Trade Representative).

Additionally, a report from the U.S. Census Bureau confirms this surplus figure, indicating that Brazil ranks as the 7th largest U.S. trade surplus in goods (Public Comment # 87). Other sources, including a press release from the Brazilian government, also corroborate this data, noting a similar surplus figure of around $7 billion (Trade Measures Adopted by the United States Government).

While some sources may report slightly varying figures, the consensus among reputable economic reports and government data supports the claim of a $7.4 billion surplus. The minor discrepancies in reported figures can often be attributed to differences in reporting methodologies or timing of data collection.

Conclusion

Verdict: True
The claim that the U.S. has a goods trade surplus with Brazil totaling $7.4 billion in 2024 is accurate. This figure is consistently reported across multiple reliable sources, confirming the U.S. trade position with Brazil for the year.

Fact Check: The U.S. has a goods trade surplus with Brazil totaling 7.4 billion in 2024.