Brazil targets Indian oil market after Trump's tariff hike.
The task of advancing trade negotiations will fall to Vice President Geraldo Alckmin, who is preparing an official visit to New Delhi in October.
247 - Given the escalating trade tensions between the United States and India, the Brazilian government is evaluating a strategic opportunity to expand its participation in the Indian oil market. This move comes after US President Donald Trump announced a 50% tariff on imported Indian goods in retaliation for the close energy relations between New Delhi and Moscow. This information comes from [source missing]. CNN Brazil.
In justifying the measure, Trump described the volume of oil and refined products that India has been purchasing from Russia as "unacceptable," which motivated the imposition of the new tariffs. Washington's reaction opened the door for other exporting countries, such as Brazil, to compete for the share of the Indian market currently occupied by Russian suppliers.
Data from the Brazilian government in 2024 indicates that approximately 30% of India's imported oil comes from Russia. Brazil, in turn, represents only 1% of this total, despite oil occupying the second position in Brazilian exports to the Asian country. With the possibility of a decrease in Indian purchases from Moscow—due to US pressure—Brazil sees an opportunity to consolidate itself as an alternative supplier, alongside nations in the Middle East.
Although the topic has gained relevance in the geoeconomic scenario, the report highlights that the issue was not addressed in the telephone conversation held this Thursday (7) between President Luiz Inácio Lula da Silva (PT) and the Prime Minister of India, Narendra Modi.
The task of advancing trade negotiations will fall to Vice President Geraldo Alckmin (PSB), who is preparing an official visit to New Delhi in October. The Brazilian delegation is expected to present, in addition to the proposal to expand oil exports, cooperation initiatives in the defense and critical minerals sectors—areas considered strategic for strengthening the bilateral relationship between the two countries.
