Brazil to reduce import tariffs on several petchem products

02 August 2013 20:51  [Source: ICIS news]

CAMPINAS, Brazil (ICIS)--Brazil plans to reduce import tariffs on a number of chemicals, rubber, plastics, tyre and oil products effective 1 October, the government announced on Friday.

The reductions are as a result of a stronger economy, the government said.

According to the announcement, imports tariff decreases will vary and may reach a maximum rate of 14% for chemicals, 18% for rubber and plastics, 16% for tyres and 4% for oil derivatives.

The Brazilian government did not specify on Friday how individual chemicals and products will be affected.

Last year's imports tariff maximum rate for these products was 20% for chemicals and 25% for rubber, plastics, tyres and oil derivative products.

Maleic anhydride (MA), ethylene glycol (EG), diethylene glycol (DEG), polycarbonate (PC), methyl methacrylate (MMA), polymethyl methacrylate (PMMA), epoxy resins, ethylene polymers in primary forms and polybutadiene rubber (BR) were among the chemicals that had their tariffs raised last year.

By: Leo Siqueira
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