Brazil: Brazil Temporary Lowers Import Tariffs

On November 5, Brazil announced a unilateral 10 percent reduction of import tariffs on 87 percent of all goods and services until December 31, 2022. Agricultural products are on the list of reductions, including ethanol – which was lowered by 10 percent from 20 percent to 18 percent. Although the measure is temporary, it may become permanent if adopted by the Mercosur trade bloc.