Brazil Raises Tariffs on Toy Imports from China

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.

 

 

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