Brazil’s footwear industry faces fresh challenges in 2024 as US tariffs and rising Asian competition slow exports and threaten jobs. In July, Brazilian shoe exports fell by 11.8%, highlighting the immediate impact of these international trade hurdles.
US Tariffs and Asian Competition Reshape the Market
Despite a rise in exports to the US, the overall volume dropped. This shows that tariff changes and stronger Asian competition are reshaping Brazil’s position in the global footwear market. Factories in Brazil now worry about potential job losses as declining orders affect production rates.
Industry Response and Outlook
Brazilian footwear companies are adapting by seeking new markets and investing in innovation. However, the sector urges policymakers to negotiate better trade terms and offer support to protect jobs and maintain exports. The situation remains fluid, and all eyes are on how both governments and businesses respond in the coming months.
Sources:
FashionUnited: US Tariffs Impact Brazilian Footwear Industry
