Brazil announces $ 5.5B package to compete Trump’s tariff

Brazilian President Luiz Eneasio Lula Da Silva on Wednesday announced a plan to support exporters that have been affected by high tariffs up to 50% of the country’s many products by US President Donald Trump.The scheme offers a credit of 20 billion reais ($ 5.5 billion; € 4.7 billion), which supports autocratic exporters.Other measures of the scheme include postponing tax duty for tariff affected businesses, while encouraging Brazilians to buy locally produced goods that would have been otherwise exported to the US.Lula said, “When there is a crisis, we cannot be afraid, nervous and worried.”“A crisis is to make new things for us.”Lula also said that Trump has no good reason to kill Brazil with a high tariff.

What is behind Trump’s tariff on Brazil?

While the Trump administration announced extensive tariffs on many countries around the world, Brazil was eventually taken out with the highest levy up to 50%.Trump said that additional tariffs were the legal status of his colleague, the reaction of the far-flung populist former President, Zayer Bolsoro.Bolsono is currently subject to the house arrest on allegations that he conspired for a coup after losing the 2022 presidential election.Lula did not put back on the field for tariffs, saying that every time the US decides to “fight with someone”, they portray their rivals as devils.Lula said, “Now they want to talk about human rights in Brazil … We have to see what happens in the country accusing Brazil.”The US President cited “human rights violations” by the Left Government in support of his colleague Bolsonro.

Lula calls for conversation with Washington

Lula responded to the claims, saying that Brazil’s judiciary is independent, the country’s Finance Minister Fernando Hadad said that Brazil is being approved to be more democratic than its aggressive. “The Brazilian leader has so far avoided imposing high tariffs on American imports, saying that he is not interested in “deteriorating our relations with America”.“We like to talk,” said Lula.“We don’t want to struggle. I don’t want to struggle with Uruguay, Venezuela, or even America. The only thing we need to demand is that our sovereignty is untouchable, and no one should say what we should do.”