Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
BRASILIA, Aug. 14 (Xinhua) — Brazil on Wednesday launched a package of measures to support exporters hit by 50 percent U.S. tariffs.
The “Sovereign Brazil” program will provide R$30 billion (approximately US$5.562 billion) in affordable loans, tax incentives, etc. Priority is given to small businesses and those involved in perishable food products.
The initiative also simplifies public procurement in the affected rural and agribusiness sectors, modernizes the export guarantee system and reinstates tax refunds for supply chain participants.
In his speech, Brazilian President Luiz Inacio Lula da Silva lashed out at the US government's arguments in favor of imposing tariffs. In particular, he said that Washington accused the country of politically persecuting former President Jair Bolsonaro, who is on trial for attempting a coup d'etat. L. I. Lula da Silva noted that accusations of disrespect for human rights and arbitrary legal proceedings are unacceptable in Brazil.
"It is important to say that we should not be nervous, worried or overly concerned in the event of a crisis. Challenges exist so that we can create something new. It is unfortunate that there are no valid reasons for imposing tariffs on Brazil," the president said. The country will not apply reciprocal measures for now, the head of state added. -0-
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