Latest news with #SovereignBrazil
Hans India
2 days ago
- Business
- Hans India
Brazil not to bow down to US, says Lula
Brazil will not bow down to the United States, President Luiz Inacio Lula da Silva said, countering the claim by his US counterpart Donald Trump that Brazil is "a horrible trading partner." "It is a lie when the US President says that Brazil is a bad trading partner. Brazil is good, it just won't bow down to the US government," Lula said during an event in the northeast state of Pernambuco on Thursday, Xinhua News Agency reported. Earlier in the day, Trump said Brazil is a "horrible trading partner," calling the trial against former Brazilian President Jair Bolsonaro a "political execution." Lula said that "democracy is judging Bolsonaro." Earlier on Wednesday, Brazil launched a package of measures to support exporters hit by a 50 per cent tariff imposed by the US government. The initiative, called Sovereign Brazil, provides 30 billion reais (about $5.562 billion) in affordable loans, tax breaks and other measures, prioritising small businesses and those dealing in perishable foods. It also facilitates public procurement from affected rural and agro-industrial sectors, modernises the export guarantee system, and reactivates a programme to refund taxes in the production chain. In a speech during the announcement, the Brazilian President 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," he said. While the tariff is unjustified, Brazil will not apply reciprocal measures for the time being, he added. "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.
Nahar Net
2 days ago
- Business
- Nahar Net
Brazil's Lula announces $5.5 billion in credits for exporters hit by US tariffs
by Naharnet Newsdesk 14 August 2025, 15:44 The Brazilian government on Wednesday unveiled a plan to support local companies affected by a 50% tariff imposed by U.S. President Donald Trump on several of the country's exports. Dubbed "Sovereign Brazil," the plan provides for a credit lifeline of 30 billion reais ($5.5 billion), among other measures. Hours later, U.S. Secretary of State Marco Rubio announced new sanctions against at least two Brazilian officials, in a move the South American nation's health minister rebuked. Brazil's President Luiz Inácio Lula da Silva described the plan, which includes a bill to be sent to Congress, as a first step to help local exporters. The leftist leader, whose poll numbers have gone up since the tariffs against his country were announced, once again said he and Trump have never spoken, and claimed the American president does not want to negotiate. Top congressional leaders attended Wednesday's ceremony at the presidential palace in Brasilia, a first in months, in a sign of growing political support for Lula in response to Trump. Brazil's plan Brazil's measures include postponing tax charges for companies affected by U.S. tariffs, providing 5 billion reais ($930,000) in tax credits to small- and medium-sized companies until the end of 2026, and expanding access to insurance against cancelled orders. The plan also incentivizes public purchases of items that could not be exported to the U.S. Brazil's government is also granting a one-year extension of tax credits for companies that import items so they can produce goods for exportation. That mechanism is called "drawback." "We cannot be scared, nervous and anxious when there is a crisis. A crisis is for us to create new things," Lula said. "In this case, what is unpleasant is that the reasons given to impose sanctions against Brazil do not exist." Trump has tied the 50% tariff on many imported Brazilian goods to the judicial situation of his embattled ally, former President Jair Bolsonaro, who is currently under house arrest. Brazil's president added that "for now" he will not use the country's reciprocity law to impose higher tariffs on American imports coming to Brazil. Ricardo Alban, the chairman of the Brazilian industry confederation, said he hopes "this plan is behind us as quickly as possible." He described it as "palliative, but necessary." "Nothing justifies us being on the lowest of tariffs to going to the highest of tariffs," Alban said. Economy or politics? Trump has repeated a narrative pushed by Bolsonaro's allies, which claims the former Brazilian president's prosecution for attempting to overturn his 2022 election loss is part of a "deliberate breakdown in the rule of law," with the government engaging in "politically motivated intimidation" and committing "human rights abuses." "Our American friends, every time they decide to fight with someone, they try to create an image of a devil against the people they want to fight with," added Lula, who pledged to find markets to buy Brazilian goods that will not go to the U.S. Lula repeated on Wednesday that Brazil's judiciary is independent. The executive branch, which manages foreign relations, has no control over Supreme Court justices, who in turn have stated they won't yield to political pressure. Bolsonaro's trial is expected to come to the sentencing phase sometime between September and October. "If what happened at the Capitol (the U.S. riots on Jan. 6, 2021) had happened in Brazil, he (Trump) would be on trial here too," Lula said. Earlier in August, Justice Alexandre de Moraes, who oversees the case against Bolsonaro, was sanctioned under the U.S. Magnitsky Act, which is supposed to target serious human rights offenders. De Moraes has argued that defendants were granted full due process. Rubio's response Only hours after Lula's plan was announced, Rubio said the U.S. would "restrict visa issuance to Cuban and complicit third-country government officials and individuals responsible for Cuba's exploitative labor export program." Rubio said on X that the Brazilian government program "More Doctors," which was started in 2013 with thousands of Cuban doctors spreading nationwide, was "an unconscionable diplomatic scam of foreign 'medical missions.'" Brazil's Health Minister Alexandre Padilha, who was in the same job when the program was founded, later said the initiative "will survive to unjustifiable attacks from no matter who." "This program saves lives and it is approved by those who matter most: the Brazilian people," Padilha said. "We will not bow to those who are against vaccines, against research, against science and now against two key people in my first tenure as health minister, Mozart Sales and Alberto Kleiman (who had their U.S. visas revoked)." Brazil's government says the initiative currently has almost 25,000 medical professionals operating, but did not provide figures on how many of those are Cuban. Lawmaker Eduardo Bolsonaro, a son of the former president who is seeking amnesty for his father and others implicated in the alleged coup plot, praised the U.S government. "This measure is a clear message: neither ministers, nor lower-tier bureaucrats nor their family members are immune. Sooner or later, everyone who contributed to support those (autocratic) regimes will answer for what they did — and there will be no place to hide," he said. Earlier, Brazil's Finance Minister Fernando Haddad said that his country "is being sanctioned for being more democratic than its aggressor." "We will face, as we have, many difficult situations and we shall overcome," Haddad said. "This one comes from the outside, but unfortunately it has the support of radicalized sections of Brazil's society."
Time of India
3 days ago
- Business
- Time of India
Brazil-US trade row: Lula unveils $5.5 billion relief plan for exporters hit by tariffs; Washington responds with fresh sanctions
File photo: US secretary of state Marco Rubio (left) and Brazilian President Luiz Inácio Lula da Silva (Picture credit: AP) Brazil has launched a sweeping support package to cushion domestic businesses from the impact of a steep new US tariff, only to face fresh sanctions from Washington hours later. As per news agency AP, Brazilian President Luiz Inácio Lula da Silva on Wednesday announced the 'Sovereign Brazil' plan, a year-long programme worth 30 billion reais ($5.5 billion) aimed at helping exporters hit by the 50% import duty imposed by US President Donald Trump on a range of Brazilian goods. Lula called the package 'a first step' to protect local producers and said it would be presented to Congress for approval. The measures include delaying certain tax payments, granting 5 billion reais ($930 million) in tax credits to small and medium-sized companies through 2026, offering insurance for cancelled overseas orders, and encouraging government agencies to buy products now blocked from entering the US. The plan also extends by one year tax benefits for companies that import materials to make goods for export, a scheme known as 'drawback'. 'We cannot be scared, nervous and anxious when there is a crisis. A crisis is for us to create new things,' Lula said. He dismissed the US rationale for the tariffs, adding: 'The reasons given to impose sanctions against Brazil do not exist.' Despite pressure from some quarters, Lula said he would not, 'for now', retaliate with higher tariffs on American imports. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Chernivtsi: Unsold Sofas Prices May Surprise You (Prices May Surprise You) Sofas | Search Ads Search Now Undo The president also underlined that he has never spoken to Trump and claimed the US leader was unwilling to negotiate. The tariff move is widely seen as linked to Trump's public defence of his ally, former Brazilian president Jair Bolsonaro, who is under house arrest. Trump has echoed Bolsonaro's supporters by alleging that the prosecution against the former leader is politically motivated. Lula, however, stressed that Brazil's judiciary is independent and the executive has no influence over Supreme Court decisions. In an apparent reference to the storming of the US Capitol in 2021, Lula remarked: 'If what happened at the Capitol had happened in Brazil, he (Trump) would be on trial here too.' Bolsonaro's case is expected to move towards sentencing between September and October. The announcement of Brazil's plan coincided with a separate escalation from Washington. US secretary of state Marco Rubio declared visa restrictions under the Magnitsky Act against at least two Brazilian officials, Mozart Sales and Alberto Kleiman, accusing them of involvement in Cuba's controversial overseas medical worker scheme. Rubio described Brazil's 'More Doctors' programme, which employs thousands of Cuban medics, as 'an unconscionable diplomatic scam of foreign 'medical missions'.' Brazil's health minister Alexandre Padilha, who launched the programme in 2013 during his first term in the role, hit back: 'This programme saves lives and it is approved by those who matter most: the Brazilian people. We will not bow to those who are against vaccines, against research, against science.' According to the Brazilian government, nearly 25,000 medical professionals are currently part of the scheme, though it did not say how many are Cuban nationals. Reactions to the US move were sharply divided. Eduardo Bolsonaro, a lawmaker and son of the former president, praised Washington's stance, calling it 'a clear message' that those supporting 'autocratic regimes' would eventually be held to account. By contrast, finance minister Fernando Haddad argued the sanctions were politically charged, saying Brazil was being 'sanctioned for being more democratic than its aggressor.' 'This one comes from the outside, but unfortunately it has the support of radicalised sections of Brazil's society,' Haddad said, while business leader Ricardo Alban described the tariff fallout plan as 'palliative, but necessary' to shield the country's industries. Stay informed with the latest business news, updates on bank holidays , public holidays , current gold rate and silver price .
Euronews
3 days ago
- Business
- Euronews
Brazil announces $5.5B in credits for exporters hit by US tariffs
Brazil on Wednesday unveiled a plan to support local companies affected by a 50% tariff imposed by US President Donald Trump on several of the country's exports. Dubbed 'Sovereign Brazil,' the plan launched during a signing ceremony at the Planalto presidential palace in Brasilia provides for a credit lifeline of 30 billion reais ($5.5 billion), among other measures. Brazil's President Luiz Inácio Lula da Silva described the plan, which includes a bill to be sent to Congress, as a first step to help local exporters. 'We cannot be scared, nervous, and anxious when there is a crisis. A crisis is for us to create new things,' Lula said. 'In this case, what is unpleasant is that the reasons given to impose sanctions against Brazil do not exist.' Hours later, US Secretary of State Marco Rubio announced new sanctions against at least two Brazilian officials, in a move the South American nation's health minister rebuked. Top congressional leaders attended Wednesday's ceremony at the presidential palace in Brasilia, a first in months, in a sign of growing political support for Lula in response to Trump. What does the plan entail? According to local media, Brazil's measures include postponing tax charges for companies affected by US tariffs and providing 5 billion reais ($930,000) in tax credits to small- and medium-sized companies until the end of 2026. It also includes expanding access to insurance against cancelled orders. While public purchases of items that could not be exported to the US are also included, Lula's government is also granting a one-year extension of tax credits for companies that import items so they can produce goods for exportation, a mechanism called 'drawback.' Trump has tied the 50% tariff on many imported Brazilian goods to the judicial situation of his embattled ally, former President Jair Bolsonaro, who is currently under house arrest. Trump claims Bolsonaro is a victim of a political witch hunt, allegations Brazil denies. The Trump administration's accusations and trade tariffs against Brasilia have riled up the country's political climate and led to an increase in support and poll numbers for President Lula da Silva. On Wednesday, Lula once again said he and Trump have never spoken and claimed the American president does not want to negotiate.
BusinessToday
3 days ago
- Business
- BusinessToday
Brazil Unveils Measures To Support Exporters Hit By 50% US Tariff
Brazil on Wednesday launched a package of measures to support exporters hit by a 50 percent tariff imposed by the U.S. 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 U.S. 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. While the tariff is unjustified, Brazil will not apply reciprocal measures for the time being, he added. '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.
