Abstract: Trade liberalization policies have been widely adopted with the aim of fostering economic growth and improving living standards. However, the potential long-term consequences of such policies on human capital development and labor market outcomes remain a crucial area of investigation. While the immediate effects of trade liberalization on economic variables such as employment and productivity have been extensively studied, its long-run intergenerational impacts are not well understood. In this paper, I examine the case of the 1990 Brazilian Trade Liberalization, exploiting geographic differences in the exposure to import tariff reductions and baseline industry compositions across locations for identification purposes. My analysis reveals that higher exposure to tariff cuts is associated with a significant and persistent decline in educational attainment and labor market outcomes for future generations. I additionally explore possible channels through which trade liberalization may affect children's long-run outcomes, identifying a substantial negative effect on parental financial resources at the time of the reform as a key mechanism. Furthermore, I examine the heterogeneous effects of the policy by gender and race and undertake various robustness checks to confirm the validity of my results. My findings provide valuable insights into the intergenerational impacts of trade liberalization policies, underscoring the importance of incorporating a comprehensive understanding of policy consequences in the design and evaluation of economic interventions.