Brazil’s President Luiz Inacio Lula da Silva announced on Tuesday a $5.55 billion credit plan to support exporters affected by recent U.S. tariff hikes, with additional backing through government purchases expected.
Speaking in an interview, Lula described the credit package as an initial step, noting that further support will come through government procurement initiatives.
The government is scheduled to officially announce the plan on Wednesday (13 August) at a ceremony in Brasilia, according to Lula’s chief of staff.
Earlier reports indicated that the government might reallocate funds from a state development bank, BNDES, to finance the aid package.
This move comes after the United States raised tariffs on Brazilian imports from 10% to 50% earlier this month, exempting certain products such as orange juice and aircraft.
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Democrats captured majorities in both chambers of Congress on Tuesday, scoring sweeping victories that reached into Republican strongholds, with millions of voters delivering a strong rebuke to President Donald Trump.
Democrat wins surged on Tuesday across the United States with stunning victories in the South Carolina, Texas and Ohio senate races -- traditionally Republican strongholds -- in the 3 November midterm elections.
U.S. President Donald Trump says Washington will end its annual financial and military aid to Israel by the end of 2026, under an agreement he claims to have reached with Israeli Prime Minister Benjamin Netanyahu.
Iranian parliament speaker Mohammad Bagher Ghalibaf says the U.S. must act to prevent war after Tehran sent a “strong and rational response” to Washington. Meanwhile, U.S. forces have reportedly carried out limited strikes against Iranian targets, including Qeshm Island,
Elon Musk was not on the ballot in Tuesday’s U.S. midterm elections, but he emerged as one of the biggest losers after Democrats swept to victory, threatening his political influence and exposing his business empire to greater scrutiny.
Montenegro has moved a step closer to becoming the European Union's next member, with Brussels signalling that the Balkan country could join by 2028, ending more than a decade without EU enlargement.
Thousands of protesters, including students and artists, marched through Prague and other Czech cities on Tuesday as public television and radio workers staged a one-day strike over government plans to cut funding and bring the broadcasters under state budget control.
As oil prices surge amid conflict in the Gulf, energy leaders at ADIPEC in Abu Dhabi are confronting two major challenges: securing global supplies and meeting soaring electricity demand from artificial intelligence.
North Korea fired multiple missiles into the sea off its east coast on Wednesday, South Korea's Defence Ministry said, in Pyongyang's fourth weapons launch in a month.
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