News
News
"a new wave of good news! this big country zui new announcement: exempt from import tariffs! involving 628 kinds of products" shipping logistics | international logistics | international freight forwarding | guangzhou freight forwarding | panyu freight forwarding | hongde international
May 12,2023
Since last year, Brazil's domestic inflation has remained high. In order to stabilize domestic prices and ease inflationary pressures, Brazil has repeatedly introduced policies to reduce tariffs on imported goods.
Brazil decides on 628 kinds of machinery
and equipment products are exempt from import duties
On May 9, local time, the Executive Management Committee of the Brazilian Foreign Trade Commission made a decision,Exemption from import duties on 628 machinery and equipment products until 31 December 2025.
The commission said the tax exemption would allow companies to import machinery and equipment products worth more than $0.8 billion fromMetallurgy, electric power, gas, car, paper and other industriesBusinesses will benefit.
Since there is no domestic production, about 80% of the tariff reduction equipment needs to be imported from the United States, China, Germany and Italy.
it is reported that,Among the 628 kinds of machinery and equipment products, 564 kinds are manufacturing industries and 64 kinds are information technology and communication industries.Prior to the introduction of the duty-free policy, Brazil's import tariff for such products was 11%.
The decision will be published in the Official Journal of the Union (DOU) in the form of two new Camex Resolutions in the coming days, informing the Ministry of Development, Industry, Commerce and Services.
March 10, 2023Brazilian Vice President Alckming announced through social media that Brazil will cancel import tariffs on six commodities from the 10th. These six commodities includeTwo different types of steel, two aluminum plates, a bracelet for measuring blood pressure and pulse, and a radar antenna. Alkmin said that the import tariffs on the above-mentioned goods previously ranged from 12% to 16%, and the government will implement a "zero tariff" policy on such goods in the future.
23 May 2022The Brazilian Ministry of Economy announcedCut import tariffs on commodities such as beans, meat, pasta, biscuits, rice and building materials by 10%. The policy covers 87% of all Brazilian importers,A total of 6195 items are involved, valid from June 1, 2022 to December 31, 2023. According to data from the Brazilian Ministry of Economy, through two adjustments, the import tariffs on the above-mentioned goods will be reduced by 20%, or directly reduced to zero tariffs.
11 May 2022The Brazilian Ministry of Economy announced that in order to alleviate the impact of high inflation on production and life in the country, the Brazilian government has officially reduced import tariffs on 11 products. Products subject to tariff elimination includeFrozen boned beef, chicken, wheat flour, wheat, biscuits, baked goods and confectionery, sulphuric acid and corn kernels. In addition, the import tariff of CA50 and CA60 rebar was reduced from 10.8 per cent to 4 per cent, and the import tariff of mancozeb (fungicide) was reduced from 12.6 per cent to 4 per cent.
April 29, 2022The Brazilian government issued a decree in the official gazette to increase the tax reduction on industrial products from 25% to 35%. The Brazilian government said that the reduction of industrial product tax is conducive to the production and sales of a series of industrial products such as metallurgical products, audio-visual equipment and furniture.
March 21, 2022In order to enhance the competitiveness of the industry and reduce the impact of inflation on low-income people, the Special Meeting of the Management Executive Committee (Gecex) of the Foreign Trade Commission (Camex) of the Brazilian Ministry of Economic Affairs approved the reduction of import tariffs on some commodities. The Brazilian government has further reduced import duties on capital goods (industrial machinery and equipment) and IT and telecommunications products such as computers, tablets and mobile phones by 10 per cent. This is the second reduction in import tariffs on capital goods and telecommunications.
Global zui big pulp producer
Consider exporting to China in RMB
China and Brazil are each other's important economic and trade partners. In 2022, the bilateral trade volume between China and Brazil will reach 171.49 billion billion US dollars, and China has become Brazil's largest trading partner for 14 consecutive years.
Recently, headquartered in Brazil, the global zui large hardwood pulp producer.Susano Paper and Pulp Suzano SA CompanyAnnounced that it is considering abandoning the dollar and using the yuan to sell its products to China. The report believes that this is a further indication that "the US dollar is losing its dominant position in the commodity market".
The company's CEO Walter Sharka said in an interview with Bloomberg on Monday (May 8) that the company is considering exporting products to China in yuan.
It is understood that Susano Paper and Pulp Company, headquartered in Brazil, is the largest vertically integrated pulp and paper producer in Latin America, and its pulp production capacity accounts for about 1/3 of the global supply,43% of its pulp is sold to China.
Sharka said growing tensions between the U.S. and China are a major concern for the company, as it could depress demand and prices for pulp for a long time. "I have no doubt that China will become more important in the global market," Sharka said.
Last week, an investor asked the secretary of Meili Cloud, which owns the paper business, "Brazil, as the world's largest pulp exporter, has recently realized direct RMB transactions with China, which has a positive impact on the paper industry."
The Secretary of the Board of Directors of Meili Cloud said that the realization of direct RMB transactions between China and Pakistan will help reduce the risks caused by exchange rate fluctuations and improve transaction efficiency. In the long run, it will have a certain positive impact on the development of the paper industry.
If the company Zui finally decides to export to China in the form of RMB, it will become another successful landing of China-Pakistan cross-border RMB settlement business.
In February this year, the people's Bank of China announced the signing of a memorandum of cooperation with the Brazilian Central Bank to establish RMB clearing arrangements in Brazil.Enterprises and financial institutions of the two countries can use RMB for direct settlement. The Central Bank of Brazil announced on March 31 that the renminbi has surpassed the euro to become the country's second largest international reserve currency.
In early April, China and Brazil successfully handled the first cross-border RMB settlement business, no longer using the US dollar as an intermediate currency, showing significant advantages in clearing efficiency and exchange costs.
Up to now, more than 30 countries, including Indonesia, Iran, Russia and Germany, are gradually turning to the use of RMB in trade settlement or investment.
(WeChat Public Number: Hongde International Freight, Global Easy GO, Shipping Worry-Free)
Are you looking for reliable international logistics, shipping logistics, international freight forwarders, Guangzhou freight forwarders, Panyu freight forwarders?
Welcome to call service hotline: 020-84608436,
Or call 18933920302 (WeChat with the same number)
Make global trade unimpeded
Contact Phone
Contact Us
Copyright ©Guangzhou Hongdex International Logistics Co.,Ltd
Hotline: 020-84608598
Whatsapp: 18027165010
QQ：2853396538
Email: 2853396545@qq.com
We will provide you with timely feedback
