Brazil Cuts Tariffs on Capital, Telecommunications Goods
Brazil is eliminating tariffs on 281 products under its Ex-Tarifario regime, which provides reduced-rate treatment on certain foreign capital and information technology and telecommunications goods, according to an Aug. 12 report from the Hong Kong Trade Development Council. The additions to the list of eligible products include 261 capital goods and 20 IT and telecom goods, the report said. The tariffs will be reduced to duty-free until Dec. 21, 2021, HKT said.
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Brazil also made changes to its Mercosur common external tariff’s list of exceptions, which modified import duties on a variety of products, the report said. Duties were eliminated for several goods, including certain immunological products, medicaments and electric scalpels with ultrasonic technology. Other items with reduced duty rates include electric conductors, automatic circuit breakers, certain forged aluminum wheels used on buses and acrylic acid.
The country also extended tariff rate quotas for three products through Dec. 31, 2019, including aluminum, certain paper and rutile pigments.