Brazil's Lula downplays Congress clash over zero-tariff amendments, cost estimated at R$8-12B/yr

Brazilian President Lula characterized the dispute with Congress over zero-tariff amendments as 'part of democracy,' while his economic team estimates the fiscal cost at R$8-12 billion annually. The measure, likely related to tax exemptions on certain goods, adds to fiscal uncertainty in Brazil, though the immediate market impact is muted as details remain unclear.

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