The Brazilian president Luiz Inacio Da Silva comes to the rescue of companies. He announced on Tuesday, August 12, $ 5.5 billion in credits for companies affected by US customs tariffs, as part of a support plan. And for a good reason, a 50%punitive surcharge, with many exceptions, has been arriving at Brazilian products exported to the United States since Wednesday, August 6.
A surcharge in retaliation for legal procedures aimed at Jair Bolsonaro
This surcharge acts for Donald Trump’s reprisals against the Prosecutor’s Office addressed to former President Jair Bolsonaro, his extreme right -wing ally, accused of having tried a coup in Brazil after his defeat in the 2022 elections. The key sectors of coffee and meat are particularly affected, while orange juice, civil aviation, fertilizer and precious metals do not care about tasks Customs of 50%.
According to Brasilia, 36% of Brazilian exports are affected. AIDS will especially allocate small businesses, with large “resistance” capacities, the president added.
Brazil is, with much, the country most penalized by the new tasks of US customs. Follow behind Syria with 41% or Switzerland with 39%. The European Union does not do it so bad compared to others with 15% of customs tariffs in its imports to the American soil, as is the case of most of the commercial partners of the United States.
Source: BFM TV
