Portuguese Wines Close In on Argentina for Second Place in the Brazilian Import Market — May 2026 Mercosul-EU Tariff Drop From 27% to 24% Anchors a Glide Path to Zero by 2034
Portuguese wines hold roughly 18% of the Brazilian import market, third behind Chile and Argentina. The EU-Mercosur tariff schedule — 27% to 24% in May 2026 and to zero by 2034 — is forecast to push Portugal to 22% and past Argentina, with Cartuxa expecting 15% Brazil revenue growth.