Two major South American countries, one raised and the other lowered import tariffs on many products!
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Recently, two major South American countries, Brazil and Argentina, have made adjustments to import tariffs. Relevant export companies should pay attention to the following latest adjustments!
Brazil
On October 17, the Brazilian government announced tariffs on steel, fiber optic cables and other chemicals exported from China.
Import tariff reduction or exemption
It involves products that are not produced in Brazil or whose output is insufficient to meet domestic market demand.
① Motors used in blenders and food processors: reduced from 18% to 0%;
② Acrylonitrile (mainly used as raw material for the production of other chemical components): reduced from 10.8% to 0%; no domestic production in Brazil;
③ Polyester yarns used in technical fabrics, tires, grilles, tarpaulins, PVC laminates and sewing threads: reduced from 18% to 0%;
④ Glyphosate (a herbicide used in rice, corn, soybeans, beans, sugar cane, grapes, coffee, etc.): reduced from 10.8% to 3.8%.
Import tariff increase
According to the announcement, the reason for the increase in tariffs is that the significant increase in imports of these products has caused damage to Brazilian domestic industry products. Specific tariff changes are as follows.
① Sodium chlorite: increased from 9% to 10.8%;
② Steel products: increased to 25%;
③ Optical cables and optical fibers (cabos e fibras óticas): increased from 11.2% and 9.6% respectively to 35%; for a period of 6 months.
anti-dumping duties
The Brazilian government decided to impose temporary anti-dumping duties on four other products. The applicable tax rates are as follows.
① For metal foils from Chinese companies, import surcharges range from US7.97 to US1.28 per ton;
② For atomizers from Chinese companies, the surcharge for each imported device is between US② 来自中国公司的雾化器,每台进口设备的附加费在0.83美元到2.62美元之间;.83 and US.62;
③ For rutile titanium dioxide pigments (white pigments used in paints, cosmetics, food, etc.) from Chinese companies, the import surcharge is US7.33 to US,772.69 per ton;
④ For polyester fibers from companies in China, India, Vietnam, Malaysia and Thailand, import surcharges range from US.32 to US7.04 per ton.
Tariffs on steel products will be implemented until May 31, 2025. Tariffs on optical fiber, cables and other products will be implemented for 6 months.
Argentina
On October 16, the Argentine government passed Decree No. 908/2024, implementing significant tariff reductions on 89 types of imported goods. This move covers many fields from consumer goods to industrial raw materials. The policy is expected to reduce consumer costs and further open up international trade channels by promoting economic growth and attracting foreign investment.
The details are as follows:
① The tariff for small household appliances, such as fans, coffee machines, LED devices, heaters, kettles and electric ovens, will be reduced from 35% to 20%;
② Car tires, reduced from 35% to 16%;
③ Motorcycle tires, reduced from 35% to 20%;
④ PET and ABS plastic raw materials, including bottles, containers and white goods, dropped from 12.6% to 6%;
⑤ For textile raw materials, the import tariff of Lycra is reduced from 18% to 2%, and that of polyester fiber is reduced from 18% to 6%;
⑥ For other products, such as ground coffee, energy drinks or sunglasses, tariffs are reduced from 35% to 20%;
⑦ Tariffs on sunscreen and deodorant are reduced from 25% to 18%.
Lavini, Secretary of State for Industry and Trade at the Ministry of Economy of Argentina, said that this round of tariff reductions is part of the government’s package of measures to promote foreign trade.In parallel with the measures to reduce tariffs on refrigerators, washing machines, tires, plastic products, fertilizers and herbicides in May this year, it will further benefit industrial production and consumers.
Foreign traders working in these two markets must pay attention to tariff changes!