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BNDES Package Aims to Contain 22.4% Drop in Exports After Tariff; Job Maintenance is Required
The BNDES (National Bank for Economic and Social Development) announced on Thursday (18) the release of a R$ 40 billion package to support exporting companies affected by the tariff imposed by the President of the United States, Donald Trump. The measure, detailed by Agência Brasil, is part of the Sovereign Brazil plan and aims to provide liquidity and working capital for companies facing the new trade barriers imposed by Washington.
The impact of the tariffs is already being severely felt in bilateral trade. A survey by the American Chamber of Commerce for Brazil (Amcham Brasil), cited by Agência Brasil, indicates a 22.4% drop in exports of affected products in August of this year, compared to the same month in 2024. The president of BNDES, Aloizio Mercadante, described Trump’s measures as “authoritarian, unilateral, and unjustified,” conditioning the new credit to job maintenance.
How Does the R$ 40 Billion Package from BNDES Work?
The total volume of R$ 40 billion will be divided into two main financing fronts, both under the Sovereign Brazil plan. The largest portion, R$ 30 billion, will come from the Export Guarantee Fund (FGE). These funds are intended for companies of all sizes, provided they demonstrate that at least 5% of their gross revenue (calculated from July 2024 to July 2025) comes from products that have entered the American tariff list.
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The remaining R$ 10 billion will come directly from BNDES resources. This specific line of credit is broader and can be accessed by companies that have experienced any level of impact on their gross revenue due to the barriers imposed by the US. As detailed by Agência Brasil, the money may be used for working capital (essential for day-to-day expenses such as salaries and payments to suppliers), investments in adapting production activities, purchasing machinery and equipment, and seeking new markets.
The Social Counterpart: Job Maintenance is a Requirement
Aloizio Mercadante, the president of BNDES, was emphatic in stating that financial assistance is not a “blank check” for companies. The main counterpart required by the development bank, which is linked to the Ministry of Development, Industry, Trade, and Services (Mdic), is the maintenance of jobs in companies that access subsidized credit.
“BNDES will support all companies, and the counterpart is to maintain jobs for the economy to continue growing, and for the country not to be harmed by these authoritarian, unilateral, and unjustified measures,” declared Mercadante, according to Agência Brasil. This approach of linking credit to job stability is not new; the agency recalls that a similar movement occurred in 2024, when the bank allocated R$ 29 billion in emergency lines for companies affected by floods in Rio Grande do Sul, also tying the assistance to the preservation of jobs.
The Impact of Tariffs and Trump’s Justification
The need for the rescue package is justified by the numbers and the importance of the trade relationship. The United States is Brazil’s second-largest trading partner, second only to China. The Mdic estimates that the tariff of up to 50% affects 35.9% (about a third) of everything Brazil exports to the American market. The measure, signed by executive order from Trump, took effect on August 6.
The official justification from the Trump administration for the protectionist measure is controversial. The American president claims that the US has a trade deficit with Brazil (buying more than selling), which is denied by official data from both countries, as reported by Agência Brasil. Moreover, Trump publicly used what he considers to be a treatment of “persecution” of Brazil against former president Jair Bolsonaro, recently convicted by the Supreme Federal Court (STF) for attempting a coup.
Despite the severity of the measure, the American government left about 700 products on an exceptions list that will not be subject to tariffs. Among the exempted items are significant products from the Brazilian agenda, such as orange juice and pulp, fuels, minerals, fertilizers, civil aircraft (including engines and parts), pulp, and precious metals.
Who Can Apply and How to Access Emergency Credit?
Exporting companies directly affected by the tariffs can already check their eligibility for the Sovereign Brazil plan. BNDES has created a specific portal for this inquiry, which must be accessed directly on the institution’s website. The preliminary verification is the first mandatory step to gain access to the announced funds.
To check eligibility, interested parties will need to authenticate on the platform using their GOV.BR account, necessarily through the digital certificate (e-CNPJ) of the company. If the system confirms that the company is eligible to receive credit, BNDES’s guidance, as disclosed by Agência Brasil, is for the entrepreneur to approach the commercial bank (public or private) with which they already have a relationship. Only large companies can negotiate financing directly with BNDES.
The R$ 40 billion package from BNDES represents a direct response from the Brazilian government to protect the national industry and jobs from the immediate impact of the trade sanctions imposed by the US. The 22.4% drop recorded in just one month has raised the highest alert in the productive sector, and the requirement for job maintenance attempts to balance financial assistance with social stability.
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