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Brazil Raises Tariffs on Toy Imports from China

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Brazil Raises Tariffs on Toy Imports from China

by CFO Innovation Asia Staff, 29 December 2010
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Accounting and Regulations Tax
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tariffs
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To protect its manufacturers, Brazil's Foreign Trade Chamber has raised the tariffs on imported Chinese toys to 35% from 20% until the end of 2011, reports Bloomberg.

 

Quoting Brazil’s state-development bank, Bloomberg says imports of Chinese goods in the 12 months through August increased 37% to $21.4 billion, from $15 billion in all of 2009. Bloomberg adds that the surge in Chinese imports, boosted by the real's gain against the yuan, threaten to displace domestic sales by Brazilian manufacturers.

 

 

MORE ARTICLES ON TARIFFS

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Brazil Raises Duties on Chinese Toys as Real Gains Hurt
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