Brazilian President Lula announced on the 22nd that Brazil will expand its trading partners to deal with the impact of US tariffs and find a new way out for the country's economy based on its reputation and international market position. Lula said that the Brazilian government will launch a credit support program totaling R$18.5 billion to mitigate the impact of US tariffs on Brazilian products and the Middle East situation on Brazilian exports. According to reports, the current credit support program mainly supports the steel, aluminum, automobile, timber, machinery and other industries affected by the tariffs imposed by the United States, as well as strategic industries such as fertilizers and pharmaceuticals, and exporters affected by the situation in the Middle East. On the same day, Lula signed a bill adding a credit line of R $15 billion to a previously established credit support program. The plan aims to deal with the impact of the first round of tariffs imposed by the United States on the Brazilian economy last year. The Office of the United States Trade Representative issued a statement on the 15th announcing the imposition of 25% tariffs on some Brazilian products in accordance with section 301 of the 1974 Trade Act. The additional tariff measures came into effect on July 22, involving thousands of Brazilian products.

Brazilian President Lula announced on the 22nd that Brazil will expand its trading partners to deal with the impact of US tariffs and find a new way out for the country's economy based on its reputation and international market position. Lula said that the Brazilian government will launch a credit support program totaling R$18.5 billion to mitigate the impact of US tariffs on Brazilian products and the Middle East situation on Brazilian exports. According to reports, the current credit support program mainly supports the steel, aluminum, automobile, timber, machinery and other industries affected by the tariffs imposed by the United States, as well as strategic industries such as fertilizers and pharmaceuticals, and exporters affected by the situation in the Middle East. On the same day, Lula signed a bill adding a credit line of R $15 billion to a previously established credit support program. The plan aims to deal with the impact of the first round of tariffs imposed by the United States on the Brazilian economy last year. The Office of the United States Trade Representative issued a statement on the 15th announcing the imposition of 25% tariffs on some Brazilian products in accordance with section 301 of the 1974 Trade Act. The additional tariff measures came into effect on July 22, involving thousands of Brazilian products.