The Brazilian government has unveiled a plan to support local exporters impacted by the 50 percent tariff imposed by the United States.

Officials announced what has been dubbed “Sovereign Brazil”, a credit lifeline of 30 billion reais ($5.5bn) on Wednesday.

Brazil’s President Luiz Inacio Lula da Silva described the plan, which includes a bill to be sent to Congress, as a first step to help local exporters.

Congressional leaders attended Wednesday’s ceremony, a first in months, in a sign of growing political support for the leftist leader in response to US President Donald Trump’s tariffs.

Other measures announced by the Brazilian government include postponing tax charges for companies affected by US tariffs, providing 5 billion reais ($926,000) in tax credits to small and medium-sized

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