The Governments of Argentina and Brazil Friday agreed to cut down the common external tariffs (CET) by 10% “in a very wide universe of products” after months of tensions among members of Mercosur on the issue.
Former Brazilian presidents Fernando Henrique Cardoso and Lula da Silva signed a statement in which they support Argentina's position in the Mercosur controversy regarding a flat unilateral tariff reduction as sponsored by president Jair Bolsonaro, with the backing of Uruguay, but rejected by President Alberto Fernandez.
Uruguayan President Luis Lacalle Pou said Thursday during the virtual Export Day celebrations that “we like to play on a large court, and not on a small, protected one.”
Argentina's Ambassador to Mercosur Mariano Kestelboim Sunday said he favoured “a new common external tariff that promotes productive development.”
Brazil has reduced import taxes and tariffs to zero for products used to combat Covid-19, including syringes and needles classified under codes 9018.31.11, 9018.31.19, 9018.31.90, 9018.32.19, and 9018.39.10 of the Mercosur Common Nomenclature. The products are included in the list of temporary tariff reductions covered by Gecex (Executive Management Committee of the Chamber of Foreign Trade), Resolution 17, from 17 March 2020.
Despite the Trump administration's tariffs on Chinese goods and the ongoing COVID-19 pandemic, U.S. imports from China are surging as the year 2020 draws to a close, The New York Times reported.
France will require online technology giants to pay a new digital tax on their 2020 earnings, the finance ministry said on Wednesday, despite Washington's warning that it could retaliate with new tariffs on French imports.
About 3,500 U.S. companies, including Tesla Inc, Ford Motor Co, Target Corp, Walgreen Co, and Home Depot have sued the Trump administration in the last two weeks over the imposition of tariffs on more than US$300 billion in Chinese-made goods.
The United States reported last week the sale of 30,000 tons of rice to Brazil. This follows on the decision from the Brazilian Chamber of Foreign Trade (Camex) to slash tariffs on rice to zero, helping to reduce the price of the grain for consumers.
President Donald Trump’s administration took new steps to curb steel imports from Brazil and Mexico, boosting protections for battered U.S. steelmakers and jobs in the election battleground states of Pennsylvania, Ohio, and Michigan.