Brazil's Strategic Response to U.S. Tariffs

Brazil announces an aid package to support local companies affected by U.S. tariffs. The initiative includes extending an export value return program and government purchases of products initially intended for the U.S. market. Vice President Geraldo Alckmin detailed these measures at an event in Brasilia.

In a strategic move, Brazil's government announced an aid package to assist companies impacted by steep U.S. tariffs on Brazilian goods. The comprehensive plan was unveiled on Wednesday, aiming to cushion the blow to exporters.

The package involves extending an existing program that reimburses part of the exported value to firms sending goods to the United States. This initiative seeks to mitigate financial challenges faced by Brazilian exporters due to the tariff hikes.

Additionally, the plan includes a proposal for the government to purchase products initially earmarked for export to the United States, offering further relief to affected businesses. Vice President Geraldo Alckmin elaborated on these measures in an address in Brasilia.

(With inputs from agencies.)