Brazil announced an 18.5 billion reais (US$3.7 billion) credit package to shield exporters from new US tariffs, prioritising domestic relief over immediate retaliation.

A 25% US tariff on Brazilian goods took effect July 22, but Brazil is not retaliating immediately. Lula faces pressure from VP Alckmin and industry to.

A new 25% US tariff on a range of Brazilian goods came into effect on Wednesday, escalating trade tensions between the United States and Brazil despite Washington maintaining a…