Brazil Reveals Financial Support Plan
(MENAFN) Brazilian President Luiz Inacio Lula da Silva revealed a comprehensive initiative on Wednesday to assist exporters harmed by steep tariffs, reaching up to 50%, recently implemented by the United States on various Brazilian goods.
The newly introduced strategy encompasses $5.5 billion in credit lines for exporters, tax reductions for impacted enterprises, and measures to encourage domestic production geared toward the American market.
The president enacted the plan through an executive decree, which becomes effective immediately.
However, to remain valid, the measure requires approval from Congress within a four-month timeframe.
“We cannot be scared, nervous and anxious when there is a crisis. A crisis is for us to create new things,” Lula emphasized.
“In this case, what is unpleasant is that the reasons given to impose sanctions against Brazil do not exist.”
Lula also rejected a report by the U.S. State Department that criticized his administration for allegedly stifling freedom of expression and open political dialogue, particularly targeting members of the press and political figures.
“There was really no reason to hit Brazil with tariffs, nor will we accept being told that we don’t respect human rights here in Brazil,” he stated firmly.
In his rebuttal, Lula highlighted the autonomy of Brazil’s legal system, asserting that judicial decisions are made without external influence.
“Every time that our American friends decide to pick a fight with someone, they try to make the people they want to fight with look like demons,” he concluded.
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