President Lula on the 22nd said Brazil will diversify trading partners to
mitigate the impact of US tariffs and disruptions from Middle East tensions, and
will launch a BRL 18.5 bln (about USD 3.7 bln) credit support package. The
program targets industries and exporters hit by the tariffs and regional
instability, including steel, aluminum, autos, wood, machinery, fertiliser and
pharmaceutical sectors and other strategic industries. Lula also signed
legislation adding BRL 15 bln (about USD 3.0 bln) to a previously established
credit facility aimed at addressing the fallout from last year’s first round of
US tariffs.
