31-August-2025
Economy News
 
Brazil Weighs Pulling $5.5 Billion From Development Bank Fund to Prop up Tariff-Hit Businesses
08-Aug-2025

Brazil's government is mulling shifting some 30 billion reais ($5.54 billion) from a fund managed by state development bank BNDES to support local firms hit by steep tariffs imposed by the U.S. on Brazilian goods, three sources familiar with the matter said on Thursday. Brasilia is readying relief measures for the industries hit by the U.S.' 50% levies, which went into effect on Wednesday, with a plan expected to be announced by early next week.

News Source:- https://money.usnews.com/investing/news/articles/2025-08-07/brazil-weighs-pulling-5-5-billion-from-development-bank-fund-to-prop-up-tariff-hit-businesses