ABSTRACT:The paratudo, Tabebuia aurea, is a common Brazilian tree from the Pantanal wetland from Miranda, Mato Grosso do Sul, an area with hydric seasonality. To evaluate the effects of water stress on CO 2 exchange, ten-month-old T. aurea seedlings cultivated in planting bags were subjected to water stress by suppressing irrigation for 23 days. Stomatal conductance, transpiration rate, and photosynthetic rate were measured during the stress and recovery period, totaling 28 days, using an infrared portable analyzer. After 23 days without irrigation, the transpiration, stomatal conductance, and net photosynthesis rates in leaflets were zero, while the leaflets water potential reached -2.6 MPa. After this point, daily irrigation was resumed, and the values of the measured variables recovered to the initial levels after 96 hours (transpiration rate from 2.0 to 2.6 mmol m -2 s -1 ; stomatal conductance rate from 0.12 to 0.18 mol m -2 s -1 and photosynthesis rate from 8.1 to 9.5 µmol m -2 s -1 ). Furthermore, the hydric potential values were similar to those observed at the beginning of the experiment (-0.5 MPa). The results showed that T. aurea has tolerance to drought, allowing their survival in areas subjected to periodic water stress.