Brasilia approved emergency credit and said it is not pursuing immediate retaliation as Washington plans July 22 tariffs on most Brazilian goods, citing unfair trade practices including Brazil's Pix payments system.
Brazil authorized nearly 13.3 billion reais ($2.6 billion) in extraordinary credit after the Trump administration said it would impose a 25% tariff on most Brazilian goods on July 22, describing the move as a response to unfair trade practices and citing concerns about Brazil's Pix instant-payment system. Finance Minister Dario Durigan said Brazil sees no basis for immediate retaliation, is evaluating reciprocal measures, and will keep negotiating while supporting affected sectors without compromising fiscal targets. The package includes 9 billion reais for rural technology development, 3 billion reais for a borrower financial rebalancing program, 270 million reais for independent sugarcane producers in the Northeast, 1 billion reais for student-loan beneficiaries and 15 million reais for Brazil's voluntary contribution to the Inter-American Court of Human Rights.