The 'Sovereign Brazil' plan includes a 30 billion reais credit lifeline for businesses affected by U.S. tariffs. Measures focus on supporting local exporters, highlighted by tax credits of 5 billion reais to small and medium enterprises and postponed tax charges. President Lula announced these initiatives as immediate responses to maintain exports amid challenges brought by U.S. tariffs, impacting key sectors like the beef industry. The plan is set to last four months unless extended by Congress, with additional incentives for public purchases of non-exportable goods.
The Brazilian government has unveiled a plan to support local exporters impacted by the 50 percent tariff imposed by the United States. This initiative, dubbed Sovereign Brazil, involves a credit lifeline of 30 billion reais ($5.5bn) to aid local exporters and is seen as a first step by President Luiz Inacio Lula da Silva.
Measures include providing 5 billion reais ($926,000) in tax credits to small and medium-sized companies until the end of 2026 and postponing tax charges for companies affected by US tariffs. Additionally, the plan incentivizes public purchases of non-exportable items.
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