LatinNews Daily - 09 June 2026

*The Brazilian government’s Plano Brasil Soberano, an initiative launched last year aimed at shielding companies from the impacts of US tariffs, has changed its rules to allow for more firms to benefit from the programme. Previously it was only companies expecting to lose at least 5% of revenue that were eligible to apply for the initiative. However, starting yesterday (8 June), Brazilian companies that expect their revenue to be reduced by at least 1% could be eligible for credit. President Luiz Inácio Lula da Silva initially created the programme last summer in response to the steep tariffs imposed by US President Donald Trump, but in March this year Lula expanded the Plano Brasil Soberano to support companies likely to be impacted by the global price shocks caused by the conflict in the Middle East. This latest expansion of the tariff relief plan comes as tensions with the US have escalated, with the Office of US Trade Representative (USTR) last week proposing more tariffs on Brazil due to claims of unfair trade practices, as well as broader tariffs on many countries, including Brazil, over the alleged failure to effectively prohibit the importation of goods made with forced labour.