A recurring threat of a punitive 50% US tariff on Brazilian imports, widely dubbed the *tarifaço*, has escalated into a central and highly divisive issue in Brazil’s ongoing presidential election campaign. The proposed duties, which have already disrupted key export sectors, have triggered a sharp political clash between President Luiz Inácio Lula da Silva and his main challenger, Senator Flávio Bolsonaro. The issue introduces significant uncertainty for companies that rely on the US market, which is the second-largest destination for Brazilian exports.