US tariffs bring external pressure, Brazilian industry prepares to submit relief proposal to the government
Facing the external pressure brought by the new round of high tariffs imposed by the US government, 16 industry associations from Brazil's consumer and retail sectors jointly called for the suspension of the increase in the financial transaction tax (IOF), enhanced export credit support, and the moderate flexibilization of the labor law framework to alleviate corporate operational pressure and stabilize employment.
According to Brazilian media "Valor Econômico", the consumer and retail sector in Brazil has drafted a policy proposal. The core content has been finalized and is currently being reviewed and confirmed by the associations, with plans to submit it to the federal government soon. Participating units include representative institutions such as the Brazilian Supermarket Association (Abras), the Food Industry Association (Abia), the Coffee Industry Association (Abic), the Corn Producers Association (Abramilho), and the Personal Care and Cleaning Products Association (Abihpec) across various consumer goods sectors.
The initiative emphasizes that the US announcement of additional tariffs of up to 40% on certain Brazilian exports has caused substantial impact on the supply chain, and companies urgently need coordinated fiscal and financial tools. A key demand is to suspend the pace of increasing the financial transaction tax to reduce financing costs and release liquidity. (Xinhua Finance)
Original text: https://www.toutiao.com/article/1839324663684227/
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