Brasilia, Brazil, 20 July – Import tariffs on Chinese footwear exported to the southern Latin American trading bloc, Mercosul, will increase from 20 percent to 35 percent next week, media in Sao Paulo have reported.
The online edition of Folha de Sao Paulo said Thursday that the boosted footwear tariffs have been demanded by Brazil’s footwear industry in the wake of the rising value of the real in relation to the US dollar.
The new import duty, known as the Common External Tariff (TEC), was agreed after meetings between trade officials from Brazil and Uruguay, the only Mercosul member not to have approved the decision.
The new tariffs on Chinese footwear were agreed during four-way telephone conversations between the foreign ministers of Brazil, Uruguay, Argentina and Paraguay and come into effect next week.
Uruguay has asked for time to study proposals to bring in new tariffs on imported garments, which Brazil wants to raise from 20 percent to 35 percent. (macauhub)