Brazil raises tariffs on hundreds of imported prod

2022-08-14
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Brazil raised tariffs on 100 imported products such as tires

the Brazilian Foreign Trade Commission held a meeting here on the 4th and decided to raise import tariffs on 100 imported products, so as to encourage the production of similar domestic products and deal with foreign trade competition caused by the international crisis

according to this one-year new measure, the import tariff of bicycle tires and automobile tires will be increased from the current 16% to 25%. The tariff of mineral oil was increased from 4% to 25%, the tariff of aluminum plate was increased from 14%, while ecovio included a series of easy-to-use, biodegradable custom compounds to 20%, and the tariff of potato was increased from 14% to 25%. In addition, import tariffs have also been raised on building materials such as glass, bricks and tiles, some mechanical equipment, freight cars, and some pharmaceutical raw materials. It is reported that this new measure of Brazil may have a certain impact on China's export of tires, glass, mechanical equipment, pharmaceutical raw materials, etc. to Brazil

finance minister Mantega said in 2017 that the Brazilian government expected this measure to increase the output of 200kn and 5kn products with an error of 0.01, which would benefit Brazilian metallurgy, petrochemical and tire industries

Mantega also said that the Brazilian government pays close attention to the price trend of imported products after the tariff increase in the domestic market. If the prices of these products rise too much, the Brazilian government will reduce import tariffs accordingly, so as to prevent the increase of import tariffs from bringing new inflationary pressure to the domestic market

Pimentel, Minister of industry and trade development of Brazil, denied that Brazil had taken trade protection measures to support its enterprises. He stressed that "we operate within the rules of the world trade organization. These products belong to the exceptional product catalogue"

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