Brasilia, Aug 14 (UNI) Brazil unveiled a package of measures to support exporters hit by a 50 percent tariff imposed by the US government.
The initiative, called “Sovereign Brazil”, provides 30 billion reais (about 5.562 billion U.S. dollars) in affordable loans, tax breaks and other measures, prioritizing small businesses and those dealing in perishable foods.
It also facilitates public procurement from affected rural and agro-industrial sectors, modernizes the export guarantee system, and reactivates a program to refund taxes in the production chain.
In a speech during the announcement, Brazilian President Luiz Inacio Lula da Silva rejected the US government’s arguments for imposing tariffs on Brazilian products.
“It is important to say that we cannot become nervous, apprehensive, or overly excited when there is a crisis. Crises exist so that we can create new things. The unpleasant thing is that there are no justified reasons for imposing tariffs on Brazil,” the president said.
Calling the tariff unjustified, Brazilian President said he will not apply reciprocal measures for the time being.
“We are not announcing reciprocity. Take note of how good we are at negotiating. Initially, we don’t want to do anything that would justify worsening our relationship,” he added.
He referred to one of the reasons the White House gave for imposing tariffs: that putting Brazil’s former President Jair Bolsonaro on trial for attempting to overthrow the government to stay in power was a human rights violation.
“Brazil had no reason to be taxed, and we will not accept any accusations that we do not respect human rights in Brazil and that our trial is being conducted arbitrarily,” Lula said.
