Global Trade Alert

On 9 May 2012, the Brazilian Foreign Trade Council (Camex) reduced the import tariff on certain amino-resins, i.e., plastics and its derivatives (NCM 3909.30.20). The product had a tariff of 20% and was on the List of Exceptions to the Mercosur Common External Tariff (Letec) since 18 February 2011 (see 'Related Measures'). Now the tariff has been adjusted back to the Mercosur Common External Tariff (TEC) which is 14%.

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.