Brazilian President Luiz Inacio Lula da Silva said his government will open a 30 billion-real ($5.6 billion) credit line to help exporters absorb sharply higher U.S. import duties. Lula plans to sign a provisional measure at a ceremony in Brasília on Wednesday to activate the financing, which will be managed by state development bank BNDES and initially target small and mid-sized companies. Washington on 6 August raised tariffs on a broad range of Brazilian goods to 50% from 10%, leaving out products such as orange juice and civilian aircraft. The move affects roughly 36% of Brazil’s shipments to the United States—equivalent to about $14.5 billion in 2024—and hits staple export sectors including coffee, beef, fruit and industrial machinery. In addition to the credit facility, the contingency package under discussion includes temporary government purchases of perishable goods and employment-protection measures aimed at avoiding layoffs in affected industries. Lula said the administration is also seeking alternative export markets and has not ruled out reciprocal steps while it pursues its complaint against the U.S. duties at the World Trade Organization.