Commission approves MP that releases R$15 billion in credit for exporters

A mixed committee of the National Congress approved this Tuesday (30) the provisional measure that releases up to R$15 billion in credit lines for exporters through the Sovereign Brazil Plan. The text now goes to the Chamber of Deputies for analysis.

The objective of the proposal is to help exporters of industrial products and their suppliers affected by variation in product prices due mainly to the war in the Middle East and tariffs imposed by the United States on other countries, including Brazil.

According to the rapporteur, Senator Alan Rick (Republicans-AC), the project complies with the Constitution and does not increase mandatory ongoing expenses.

The credit line is part of the Brasil Soberano program, managed by BNDES (National Bank for Economic and Social Development). The program was created to strengthen the competitiveness of Brazilian companies, increase the resilience of national production chains and reduce impacts caused by geopolitical, commercial and technological changes on the global stage.

The new 25% tariffs proposed by the USTR (United States Trade Representative) at the beginning of this year could impact a third of Brazilian exports at rates of 37.5%, according to projections made by the CNI (National Confederation of Industry).

This number represents 27.5 percentage points more than the current tariff of 10%. The remainder of exports, around 3.6%, would increase by 2.5% compared to the current rate.

A few weeks ago, the US trade office proposed an additional 25% tariff on Brazilian products, except for goods that qualify as "subject to national security tariffs".

Source: CNN