Brazil has launched a $5.5 billion “Sovereign Brazil” package to protect exporters from new US tariffs, offering credit lines, tax relief, and market support while pursuing diplomatic solutions.

Brazil's government unveiled on Wednesday a long-awaited aid package for companies hurt by steep U.S. tariffs, centered on credit lines for exporters and government purchases of products that face greater hurdles in finding alternative markets.

The Brazilian government on Wednesday unveiled a plan to support local exporters affected by a 50% tariff imposed by U.S. President Donald Trump on several products from the South American nation.Dubbed “Sovereign Brazil,