Back to today’s briefing

Story perspectives

China Dominates Brazil's EV Market Amid Tariff Battles

2/2/2026

48 11

Summary

Story summary

In 2024, over 80% of Brazil's 61,000 electric vehicles sold were Chinese brands.
Mexico has imposed tariffs up to 50% on Chinese imports to shield industry.
Brazil is phasing out tax exemptions on low-value parcels and increasing EV tariffs.
From January to October 2025, Mexico's trade deficit with China reached $101 billion.
Despite these measures, many Latin American countries remain dependent on China, which has invested heavily in the region.

1 of 1

Story summary

In 2024, over 80% of Brazil's 61,000 electric vehicles sold were Chinese brands.
Mexico has imposed tariffs up to 50% on Chinese imports to shield industry.
Brazil is phasing out tax exemptions on low-value parcels and increasing EV tariffs.
From January to October 2025, Mexico's trade deficit with China reached $101 billion.
Despite these measures, many Latin American countries remain dependent on China, which has invested heavily in the region.