Brazil to back exporters affected by high tariffs imposed by US
(MENAFN) Brazilian President Luiz Inacio Lula da Silva unveiled a $5.5 billion support package on Wednesday aimed at helping exporters affected by US tariffs of up to 50% on several Brazilian products. The initiative includes credit lines for exporters, tax relief, and incentives to increase domestic production for export to the United States.
Lula signed an executive order implementing the plan immediately, though it requires congressional approval within four months to remain in effect. “We cannot be scared, nervous and anxious when there is a crisis. A crisis is for us to create new things,” he said. “In this case, what is unpleasant is that the reasons given to impose sanctions against Brazil do not exist.”
The president also dismissed a US human rights report accusing his administration of suppressing free speech and democratic debate, including alleged targeting of journalists and politicians. “There was really no reason to hit Brazil with tariffs, nor will we accept being told that we don’t respect human rights here in Brazil,” he stated.
Lula defended the independence of Brazil's judiciary and criticized US criticism. “Every time that our American friends decide to pick a fight with someone, they try to make the people they want to fight with look like demons,” he said. “Now they want to talk about human rights in Brazil. We have to look at what happens in the country that is accusing Brazil.”
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