ANNOUNCED AS TEMPORARYNo
On 5 March 2012, the Brazilian Foreign Trade Council (Camex) reduced the import tariff on toluene diisocyanate (TDI) from 28% to 14%. The chemical product, labelled under NCM 2929.10.21, was on the List of Exceptions to the Mercosur Common External Tariff (Letec).
List of Exceptions to the Common External Tariff
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.
On 25 October 2018, the Brazilian Foreign Trade Council has adopted Resolution 82 revoking 124 resolutions including this one.
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