Norvia's July Flash brings together the main developments in foreign trade, technology, capital markets and geopolitics. This edition highlights how tariffs, artificial intelligence, the stock market reopening and trade diversification shaped decisions by companies and investors throughout the month.

The US decision on a 25% tariff on Brazilian goods lands at a moment when America's share of the country's foreign trade has already fallen to its lowest level on record. The episode confirms that market diversification has stopped being a long-term strategy and become immediate risk management.