ANNOUNCED AS TEMPORARYNo
On 19 June 2015, the Brazilian Foreign Trade Council (Camex) issued Resolution no. 54 decreasing the import tariff on 161 tariff codes related to capital goods to 2 per cent. The measure took effect on 22 June 2015 and lasts until 31 December 2016.
The tariffs were reduced under Brazil's ex-tarifário regime which allows for a temporary customs duty exception to the Mercosur Common External Tariff on capital and IT goods. Such an exception can be invoked in case the good in question has no domestically produced equivalent. The goal of this is to restructure Brazil's industrial park and infrastructure services (see WTO Trade Policy Review).
The measure was introduced simultaneously with Camex Resolution no. 55 which reduces the tariff on IT goods (see under Related Measures measure no. 9784). According to Camex, the imported IT and capital goods are worth USD 284 million and related to projects of USD 644' 665 million.
The main affected sectors are steel (45%), auto-parts (11%), capital goods (7%), naval and nautic (5%) and nutrition (3%). The products' main countries of origin are Spain (27.01), USA(18.88), Canada (8.81), Italy (8.05) and Germany (7.55). The goods will used for industrial projects in the federal states of Ceará, Santa Catarina, Pernambuco, and Săo Paulo.
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