US Edition
Brazil’s Lula announces $5.5 billion in credits for exporters hit by US tariffs
The $5.6 billion credit package focuses on small businesses and aims to preserve jobs while Brazil seeks new markets amid US tariffs impacting 36% of exports, officials said.
- On Wednesday in Brasilia, the Brazilian head of state introduced the 'Sovereign Brazil' initiative aimed at providing support to exporters.
- The plan responds to US President Donald Trump's 50% tariffs on several Brazilian exports, which Trump ties to the judicial situation of former President Jair Bolsonaro under house arrest.
- The Sovereign Brazil initiative includes a credit facility worth 30 billion reais , tax relief measures granting up to 5 billion reais in credits for small and medium-sized enterprises through 2026, deferred tax payments, expanded insurance coverage, and incentives to promote the purchase of domestically produced goods.
- Lula emphasized that fear and anxiety should not take hold during a crisis and described the plan as an initial measure to support exporters while avoiding tensions with the US.
- The plan signals Brazil will defend exporters while seeking new markets and negotiation, rejecting the tariff rationale and emphasizing sovereignty and cooperation with other countries.
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44 Articles
In view of high US tariffs, the Brazilian government plans to provide aid to affected companies.
On Wednesday, the Brazilian government presented its aid package for companies affected by the 50 percent tariffs imposed by the Donald Trump administration, which includes a credit line of R$30 billion ($5.562 million), and which requires Congress approval.This was announced by Brazilian President Luiz Inácio Lula da Silva in his social network account X, where he specified that it is an “initial set of measures to mitigate the economic impact”…
The US has imposed 50 percent tariffs on Brazil: the government in Brasília speaks of "real blackmail" – and counters with an aid package for bagged companies.
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