Our response to Trump Tariffs has been a lot of rhetoric of ‘Unjustified, unfair and unreasonable’ or a call to ‘self-reliance’. Even urging citizens to ‘buy Made‑in‑India goods’. This is thrusting the responsibility on the citizens to counter and fight Trump. Meanwhile, what did a similar affected Brazil do:
Brazil unveiled a comprehensive 30 billion reais (approx. USD 5.5 billion) support package known as the “Sovereign Brazil” plan.
- A credit line via the Export Guarantee Fund (FGE) to aid exporters
- Tax relief and deferrals, including:
1. Postponed tax charges and extended use of tax credits under the “drawback” regime.
2. Nearly 5 billion reais in tax credits for small- and medium-sized companies through end of 2026.
- Expanded insurance options against cancelled export orders
- Incentives for public procurement of affected products—like acai, coconut water, mangoes, nuts, honey, and fish—to be used in state programs
2. New BNDES Credit Line (22nd August)
Brazil’s state development bank BNDES launched a 10 billion reais (approx. USD 1.85 billion) credit line for companies hit by U.S. tariffs.
This financing helps businesses cover operating costs and explore alternative export markets, complementing the broader Sovereign Brazil plan
3. Government Procurement of Affected Goods
The Brazilian government committed to purchase several domestic products impacted by the tariffs—notably acai, coconut water, mangoes, Brazilian nuts, honey, and fish.
These purchases are intended for use in state programs such as school meals or for stockpiling.
Rhetoric aside, what are the concrete plans that India has taken to protect our textiles, apparels, machinery manufacturing, vechiles, diamond and gold, organic chemicals, shrimps etc. Industry? We will lose jobs. Companies will fold down. Survival would become a challenge.
Rhetoric aside, have we done anything to protect the businesses affected by the tariffs?