By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Global NewsphereGlobal Newsphere
  • International
  • Sports
  • Business
  • Entertainment
  • Politics
  • Travel
Reading: Brazil announces $5.5 billion in credits for exporters hit by Trump’s tariffs
Notification Show More
Global NewsphereGlobal Newsphere
  • International
  • Sports
  • Business
  • Entertainment
  • Politics
  • Travel
© 2025 All Rights reserved | Powered by Globalnewsphere
Global Newsphere > International > Brazil announces $5.5 billion in credits for exporters hit by Trump’s tariffs
Brazil announces $5.5 billion in credits for exporters hit by Trump's tariffs
International

Brazil announces $5.5 billion in credits for exporters hit by Trump’s tariffs

August 14, 2025 3 Min Read
Share
SHARE

Brazil announced on Wednesday its plans to support local businesses affected by the 50% tariffs imposed by US President Donald Trump on several exports of the country.

The plan, called “Sovereign Brazil,” launched at the signature ceremony at Planarto Presidential Palace in Brasilia, offers a credit life of 30 billion rarer ($5.5 billion), among other measures.

Brazilian President Luis Inacio Lula da Silva has explained the plan, which includes a bill sent to Parliament as a first step towards supporting local exporters.

“When we’re in a crisis, we can’t be scared, nervous, and worried. A crisis is for us to create something new,” Lula said. “What’s uncomfortable in this case is that there is no reason given to impose sanctions against Brazil.”

Hours later, US Secretary of State Marco Rubio announced new sanctions against at least two Brazilian authorities.

Congressional leaders attended Wednesday’s ceremony at Brasilia’s Presidential Palace for the first time in months, signs of growing political support for Lula in response to Trump.

What does the plan involve?

According to local media, Brazil’s measures include tax deferrals for businesses affected by US tariffs, offering 5 billion Reais ($930,000) tax credits to small and medium-sized businesses through the end of 2026. It also includes increased access to insurance on cancelled orders.

It also includes public purchases of items that could not be exported to the US, but the Lula government has allowed companies that import items to extend their tax credits for a year so that they can produce goods for export, a mechanism known as a “downside.”

See also  At least two people killed and 18 injured in Russian strikes on Zaporizhzhia

Trump has linked 50% tariffs on many imported Brazilian goods to the judicial situation of former President Jea Bolsonaro, currently under house arrest.

Trump claims that Bolsonaro is a victim of a political witch hunt, which Brazil denied and attracted the rage of President Lula, whom he accused of “intervention.”

The accusations and trade tariffs against Brasilia filled the country’s political situation, bringing support from President Lula and an increase in polls.

On Wednesday, Lula said he and Trump had never spoken to him and that he insisted that the US president didn’t want to negotiate.

Additional sources •AP

You Might Also Like

Spanish defence minister’s plane hit by GPS ‘disturbance’ over Russian enclave

At least 18 people missing as deadly explosion destroys Tennessee factory

Former Israeli officials affirm ‘Hamas is no longer a threat’

Danish king arrives in Greenland as Trump eyes takeover of strategic Arctic island

US launches attack against Houthis in Yemen

TAGGED:Europe
Share This Article
Facebook Twitter Email Copy Link
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest News

Spain loses €45 billion to absenteeism crisis
Spain loses €45 billion to absenteeism crisis
Business
Can You Visit the National Parks During the 2025 Shutdown?
Can You Visit the National Parks During the 2025 Shutdown?
Travel
UK-Ireland box office preview: ‘I Swear’ and ‘Tron: Ares’ lead new releases
UK-Ireland box office preview: ‘I Swear’ and ‘Tron: Ares’ lead new releases
Entertainment
What to Know About New START, the Expiring US-Russia Arms Control Treaty
Trump–Putin Meeting Not Completely Off the Table, White House Says
Politics
Belgian resistance holds up €140 billion loan for Ukraine at EU summit
Belgian resistance holds up €140 billion loan for Ukraine at EU summit
International
Trump completely demolishes the historic East Wing of the White House
Trump completely demolishes the historic East Wing of the White House
International

About Us

Welcome to Global Newsphere, your trusted source for breaking news and insightful analysis from around the world. Our mission is to keep you informed with accurate, timely, and well-researched news that matters.

Legal Pages

  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms of Service
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms of Service

Trending News

Flight cancellations at Germany's Hamburg Airport affect more than 40,000 passengers after strike

Flight cancellations at Germany's Hamburg Airport affect more than 40,000 passengers after strike

The Epoch Times

Noem Taps New Leadership at ICE, Moves to Identify Leakers Within DHS

If You Don’t Have a Real ID by May 7, Can You Still Fly?

If You Don’t Have a Real ID by May 7, Can You Still Fly?

Flight cancellations at Germany's Hamburg Airport affect more than 40,000 passengers after strike
Flight cancellations at Germany's Hamburg Airport affect more than 40,000 passengers after strike
March 10, 2025
The Epoch Times
Noem Taps New Leadership at ICE, Moves to Identify Leakers Within DHS
March 10, 2025
If You Don’t Have a Real ID by May 7, Can You Still Fly?
If You Don’t Have a Real ID by May 7, Can You Still Fly?
March 10, 2025
The Epoch Times
Trump Rebukes Former Australian PM For Claiming CCP Leader More ‘Respectful’
March 10, 2025
© 2025 All Rights reserved | Powered by Globalnewsphere
Welcome Back!

Sign in to your account

Lost your password?