The South American nation will extend a program that returns part of the exported value to all companies that ship to the United States, Vice President Geraldo Alckmin told an event in Brasilia. The plan also includes government purchases of products that would initially be exported to the United States, he added.

Brazil’s government on Wednesday rolled out a long-awaited relief package including 30 billion reais ($5.6 billion) in credit to support local companies hit by Donald Trump’s trade tariffs.

Brazil's President Lula da Silva said the move is supposed to "create new things" out of the crisis resulted by Donald Trump's tariffs. While denouncing Trump, Lula says his country is still ready to negotiate.

Reaching a pact with China remains unfinished business for U.S. President Donald Trump, who has already upended the global trading system by slapping double-digit taxes – tariffs – on almost every country on earth.

U.S. President Donald Trump has launched a global trade war with an array of tariffs that target individual products and countries. Trump has set a baseline tariff of 10% on all imports to the United States,