Brazil Announces $3.7B Credit Support Plan to Counter U.S. Tariffs on July 22

According to Jin10, Brazil's President Luiz Inácio Lula announced on July 22 a 18.5 billion reais (approximately $3.7 billion) credit support plan to mitigate the impact of U.S. tariffs and Middle East geopolitical tensions on Brazilian exports. The plan targets steel, aluminum, automotive, timber, machinery, fertilizer, and pharmaceutical sectors affected by tariff increases.

On the same day, Lula signed legislation to add 150 billion reais (approximately $3 billion) to a previously established credit support program designed to address the impact of last year's U.S. tariff actions.