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Weekly Report - 23 July 2026 (WR-26-29)
BRAZIL: New US tariffs enter into force
The 25% tariffs on many Brazilian products announced by the Office of the US Trade Representative (USTR) last week [WR-26-28] took effect on 22 July. The government of President Luiz Inácio Lula da Silva responded by opening a credit line of R$18.5bn (US$3.65bn) to support businesses impacted by the new tariffs. The Lula administration has also been holding meetings with business leaders, who have warned the government against starting a trade war by enacting reciprocal measures.
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