Brazil Unveils $5.5 Bln Plan to Shield Exporters from Trump's Tariffs
Brazilian President Luiz Inácio Lula da Silva has announced a sweeping $5.5 billion relief package to support exporters reeling from punitive US tariffs of up to 50 per cent, imposed by President Donald Trump on a range of Brazilian goods.
The plan allocates 20 billion reais (€4.7 billion) in credit to assist affected businesses, alongside measures to defer tax liabilities and incentivize domestic consumption of products originally destined for the American market.
Lula
urged
resilience, asserting that crises are opportunities for innovation, while criticizing the US move as lacking legitimate grounds.
Washington's latest trade offensive singles out Brazil with some of the highest levies imposed globally, a move Trump linked to the legal troubles of his ally and Brazil's former far-right president, Jair Bolsonaro. Bolsonaro, now under house arrest, faces allegations of plotting a coup following his 2022 electoral defeat.
Lula accused the US of weaponizing human rights rhetoric to justify geopolitical disputes, asserting that Brazil's judiciary operates independently. Finance Minister Fernando Haddad condemned the tariffs as punitive measures against a nation 'more democratic than its aggressor.'
Despite the tensions, Lula signaled no immediate plans to retaliate with higher tariffs on American imports, stressing a preference for diplomacy over confrontation. He reaffirmed Brazil's commitment to defending its sovereignty while maintaining constructive relations with Washington and neighboring states.
read more
Gold prices rise, 21 Karat at EGP 3685
NATO's Role in Israeli-Palestinian Conflict
US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria
Shoukry Meets Director-General of FAO
Lavrov: confrontation bet. nuclear powers must be avoided
News
Iran Summons French Ambassador over Foreign Minister Remarks
News
Aboul Gheit Condemns Israeli Escalation in West Bank
News
Greek PM: Athens Plays Key Role in Improving Energy Security in Region
News
One Person Injured in Explosion at Ukrainian Embassy in Madrid
Videos & Features
Story behind Trending Jessica Radcliffe Death Video
News
Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters
Arts & Culture
"Jurassic World Rebirth" Gets Streaming Date
News
China Launches Largest Ever Aircraft Carrier
News
Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia
Business
Egyptian Pound Undervalued by 30%, Says Goldman Sachs
Videos & Features
Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall
Arts & Culture
South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle
Lifestyle
Get to Know 2025 Eid Al Adha Prayer Times in Egypt
News
The Jessica Radcliffe Orca Attack? 100% Fake and AI-Generated
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
See - Sada Elbalad
2 hours ago
- See - Sada Elbalad
SpaceX to Launch New Test Flight of Starship Rocket
Israa Farhan SpaceX has announced plans for a new test flight of its massive Starship rocket, scheduled for Sunday, August 24, from its Texas launch site. The spacecraft, designed for future missions to the Moon and Mars, will embark on its tenth trial following a series of previous attempts that failed due to mid-flight explosions. The Elon Musk–owned company confirmed on its official website that this new test will be the latest milestone for the largest rocket ever built. Starship's earlier trials this year faced significant technical setbacks, with the first two flights ending in dramatic explosions of the upper stage above the Caribbean Sea shortly after launch. In a third attempt in late May, Starship successfully reached space but disintegrated before completing its mission, after a fuel leak caused the company to lose control of the vehicle. The rocket's booster suffered a similar fate, breaking apart before hitting the water instead of being retrieved by the giant mechanical arms designed for a precision capture in the Gulf of Mexico. These setbacks have not deterred SpaceX, which has long embraced a high-risk strategy of launching multiple prototypes to identify and resolve technical problems. Such failures, while costly, are considered part of the company's iterative development process. However, the repeated malfunctions, including a ground-test explosion in June, have raised concerns about the pace of progress in the Starship program. Despite these obstacles, Musk remains publicly optimistic, insisting that the spacecraft will be ready to conduct its first crewed missions to Mars as early as 2026. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid Videos & Features Story behind Trending Jessica Radcliffe Death Video News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News The Jessica Radcliffe Orca Attack? 100% Fake and AI-Generated
See - Sada Elbalad
2 hours ago
- See - Sada Elbalad
Brazil to rule on Bolsonaro coup case in Sept
Israa Farhan Brazil's Supreme Court has announced it will hold special sessions from 2 September to determine whether former far-right president Jair Bolsonaro is guilty of plotting a coup following his 2022 election defeat. If convicted, Bolsonaro could face up to 40 years in prison. The hearings are scheduled for September 2, 3, 9, 10, and 12. The case centers on accusations that Bolsonaro attempted to seize power after losing to current president Luiz Inácio Lula da Silva. Thousands of Bolsonaro supporters stormed government buildings in Brasília on 8 January 2023, just a week after Lula's inauguration, alleging electoral fraud. Prosecutors argue that Bolsonaro led an armed criminal organization that orchestrated the attempted coup. His defense team maintains there is no evidence to convict him, insisting that he authorized the peaceful transfer of power to Lula. A key part of the prosecution's case relies on testimony from Mauro Cid, Bolsonaro's former aide, who entered a plea agreement. Defense lawyers have questioned the validity of this deal and criticized the credibility of his statements. The trial has sparked tensions with the United States. Former US president Donald Trump condemned the proceedings as a political witch hunt and responded by imposing sanctions on Supreme Court Justice Alexandre de Moraes, who is overseeing the case. Trump also signed an executive order introducing a 50% tariff on several Brazilian imports, citing political persecution of Bolsonaro. Bolsonaro, who governed Brazil from 2019 to 2022, has repeatedly denied any role in coup planning and is currently under house arrest in Brasília for violating a social media ban. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid Videos & Features Story behind Trending Jessica Radcliffe Death Video News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News The Jessica Radcliffe Orca Attack? 100% Fake and AI-Generated
See - Sada Elbalad
2 hours ago
- See - Sada Elbalad
White House: Trump phones NATO leaders, Zelensky
Basant Ahmed The White House said that US President Donald Trump is holding a phone call with several European NATO leaders. The White House indicated that Trump had a lengthy call with his Ukrainian counterpart, Volodymyr Zelensky. Earlier on Friday, after talks with his Russian counterpart Vladimir Putin in Alaska, the US president said he advises Zelensky to strike a deal with Russia to end the war. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid Videos & Features Story behind Trending Jessica Radcliffe Death Video News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt News The Jessica Radcliffe Orca Attack? 100% Fake and AI-Generated
