ANNOUNCED AS TEMPORARYNo
On 30 January 2015, the Brazilian Foreign Trade Council (Camex) issued Resolution no. 8 decreasing the import tariff on 435 capital goods 14% to 2%. The measure took effect on 2 February 2015 and lasts until 30 June 2016.
The tariffs were reduced unter Bazil's ex-tarifário policy which represents a temporary tariff exception to the Mercosur Common External Tariff regarding capital or IT goods. Such an exception can be invoked in case Mercosur has a shortage or no domestically produced equivalent of the good in question. The objective of this is to restructure Brazil's industrial park and infrastructure services by incentivizing investments in capital or IT goods (see WTO Trade Policy Review).
The measure was introduced simultaneously with Camex Resolution no. 7 which reduces the tariffs on IT-goods (see 'Related Measures' or measure Nr. 8734). According to Camex, both measures produce 445 ex-tarifários representing USD 1 billion of imported goods and projects worth USD 1.4billion. The main sectors affected by the investments are capital goods (19.51, nutrition (9.39, petrochemicals (7.92), cement (6.15), wood and furniture (5.95) and civil construction (5.80). The goods' main countries of origin are the USA (32.78), Germany (25.81), Italy (13.16), China (6.66) and the Netherlands (4.09).
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