On 5 August 2013, the Brazilian Foreign Trade Council (Camex) reduced the tariffs on three products by either adding them to or excluding them from the Mercosur List of Exceptions to the Common External Tariff (Letec).The affected products are:
List of Exceptions to the Common External Tariff
- Motorboats (NCM 8903.92.00, boats with outboard motors not included), tariff went from 35% to 20%, not on Letec anymore
- Pentaeritritol (NCM 2905.42.00), tariff went from 14% to 2%, new on Letec
- Monoclonal antibody MX35 (NCM 3002.10.39), tariff went from 2% to 0%, already on Letec.
The tariff codes were included in the List of Exceptions to the Common External Tariff (LETEC) of Mercosur, which is a mechanism that allows member states of Mercosur to apply customs duties that are lower or higher than otherwise listed in the Mercosur Common External Tariff schedule.
However, the tariffs shall not surpass the ceilings given by the WTO. Mercosur Decision CMC no. 26/15 gives Brazil the right to maintain a list of 100 codes based on the Mercosur Common Nomenclature until 31 December 2021.