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Brazil will impose charges if U.S. cotton
by admin ·
The Brazilian government announced Monday it would implement a total of $ 591 million in trade sanctions on U.S. goods in a move intended to go against cotton subsidies granted U.S. a year ago under a ruling of the World Trade.
The government published a list of 102 U.S. imports from subject to increases in import tax “II” in Brazil.
The increased tariffs take effect in 30 days and remain in force for one year, pending changes in the practices of U.S. subsidies.
The list includes most nonessential consumer products such as cosmetics and electronics.
It also includes some pharmaceuticals, hospital products and food items as well as some high-value imports of automobiles.
Among the more imports are taxed sales of U.S. wheat, for which tariffs will rise from 10% today to 30%. Brazil bought $ 45 million in U.S. wheat in 2009 and $ 318 in 2008.
In addition to higher tariffs, Brazil said it will impose another $ 238 million in trade sanctions against the United States, hoping to punish the industry as those involving services and intellectual property rights.
The executive secretary of the Foreign Trade Chamber, Lytha Spindola, said the government will publish another list on March 23 detailing the guidelines for trade sanctions in those areas. In 2009, trade between Brazil and the United States amounted to U.S. $ 35,600 million and recorded a deficit for the year of U.S. $ 4,400 million.
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Tags: Brazil trading, consumer products, export, Foreign Trade Chamber, government, U.S products, U.S. economy
