Brazil plans relief for firms hit by US tariff hike
Beef, aircraft, fruit among top exports facing 50% levy
30 July 2025
2 minute read
By: Brazil is planning relief measures for companies impacted heavily by steeper US tariffs set to take effect in August, Reuters reported, citing Finance Minister Fernando Haddad on Tuesday.
Speaking to CNN Brasil, Haddad said the plan, which will be reviewed by President Luiz Inacio Lula da Silva, includes steps to ensure companies have the confidence to maintain their investments.
He denied, however, that the plan includes tax exemptions for the affected companies.
Earlier on Tuesday, Ports and Airports Minister Silvio Costa Filho said the government would support plane maker Embraer, citing a potential additional credit line for the company.
Crude oil, coffee, orange juice, beef, and aircraft - mainly from Embraer - are among Brazil's top exports to the United States.
Haddad said the government still lacks clarity on what exactly will come from the US starting on August 1, the date US President Donald Trump has set to hike tariffs on Brazilian imports to the US to 50% from the current 10%.
The minister said Brazil could see a positive surprise in food inflation due to the tariffs' impact on sectors such as beef and fruit, noting that domestic prices appear to be falling as a result of increased supply in the local market.
Haddad also said Latin America's largest economy cannot make the "symmetrical mistake" of retaliating in the same areas targeted by the US tariffs, which he said would amount to responding in kind and ultimately punishing Brazilian consumers.
"I cannot anticipate decisions that have not been made," he said, when asked whether taxing big tech companies was among the retaliation measures under consideration.
