SAO PAULO, July 15 (Reuters) - The 50% tariff that U.S. President Donald Trump plans to impose on Brazilian exports starting in August could hammer the revenue of planemaker Embraer (EMBR3.SA), opens new tab like the COVID-19 pandemic did, its CEO warned on Tuesday, flagging risks to U.S. partners. Francisco Gomes Neto told reporters the tariffs would amount to a trade embargo on the regional jets it supplies to U.S. airlines and could trigger order cancellations, deferred deliveries and tough consequences for Embraer's U.S. suppliers. Advertisement · Scroll to continue Sao Paulo-listed shares in Embraer, which had risen 3% earlier in the day, seesawed during his remarks, lost the gains before ticking back up 0.6%. They have fallen around 10% since Trump announced the tariffs, but are still up 33% so far this year. The U.S. is the main market for Embraer, the world's third-largest planemaker after Airbus (AIR.PA), opens new tab and Boeing (BA.N), opens new tab, with U.S. clients buying 45% of the firm's commercial airliners and 70% of its executive jets. Analysts had warned that the Brazilian planemaker would be one of the most affected by the tariffs. "Given the relevance of this market, we estimate that if this (tariff plan) moves on at this magnitude, we will have an impact similar to that of COVID-19 in terms of the decline in the company's revenue," Gomes Neto said. Advertisement · Scroll to continue In 2020, when the pandemic ground air travel to a halt, Embraer's revenue plunged around 30% from the previous year. Gomes Neto emphasized that the tariffs would also hurt U.S. suppliers of components such as engines and avionics. "It's a lose-lose situation," he said. Aircraft are among the top U.S. imports from Brazil, along with oil, steel, coffee and orange juice. Embraer forecast the levies would generate an additional cost of around $9 million per airplane exported to the U.S., with potential impacts totaling around 2 billion reais ($360 million) this year. Shipments of E175 narrowbodies, a workhorse of U.S. regional aviation, would become "unfeasible" by the tariffs, Gomes Neto noted, adding that no order had been canceled so far. "It's a very new situation, so everyone is trying to understand this process and working toward reaching a solution within the deadline," the CEO said. Ad Break Coming Up NEXT StayNext OffEnglish 180p288p360p480p540p576p720pHD1080pHDAuto (180p) About ConnatixV597058 About ConnatixV597058 Continue watchingafter the adVisit Advertiser websiteGO TO PAGE In March, Embraer's E175 backlog included 90 firm orders from American Airlines (AAL.O), opens new tab, 40 from Republic, and 16 from SkyWest, which placed a fresh order in June for another 60 jets. ($1 = 5.56 reais) Reporting by Gabriel Araujo; Writing by Andre Romani; Editing by Brad Haynes, Kylie Madry and Richard Chang Purchase Licensing Rights Gabriel AraujoThomson ReutersGabriel is a Sao Paulo, Brazil-based reporter covering Latin America's financial and breaking news from the region's largest economy. A graduate of the University of Sao Paulo, joined Reuters while in college as a Commodities & Energy intern and has been with the firm ever since. Previously covered sports - including soccer and Formula One - for Brazilian radios and websites.