Brazil fact of the day

Last year, the US exported $171bn of agricultural goods according to the Department of Agriculture, just $2bn more than the export total claimed by Brazil, which many analysts say has benefited from trade disruption set in train by President Donald Trump’s tariffs.

With US exports falling and Brazil’s rising — they increased 6 per cent in the first half of this year to hit a new record of $87bn — 2026 could prove the year in which America loses its agricultural ascendancy.

Here is more from Susannah Savage and Michael Pooler at the Financial Times.