Brazil to reduce tariff on bicycle importsFeb, 19, 2021 Posted by Ruth Hollard
Brazil will reduce the import tariff on bicycles from 35% to 30% as of March. The tariff will then decrease to 25% in July and to 20% in December. The measure was published in the Federal Register on February 18.
With the decision by CAMEX (the executive management committee of the foreign trade chamber), the tax will return to the 20% level provided for in the Mercosur Common External Tariff (TEC). Brazil had included bicycles on TEC’s list of exceptions in 2011 when it raised the tariff to 35% to benefit domestic production.
According to ABRACICLO (Brazilian association of manufacturers of motorcycles, mopeds, scooters, bicycles, and similar products), Brazil continues production of bicycles at the Manaus industrial pole but more bicycles are imported than are exported. The hub manufactured 56,981 units in January, an increase of 44.6% compared to December and 1% compared to the same month of 2020.
See below the volume of bicycles imported by Brazil since 2017:
Bicycle Imports to Brazil (HS 8712) | Jan 2017 – Dec 2020 | TEU
Source: Brazil-Arab News Agency – ANBA
- Ports and Terminals Jun, 10, 2019 0
- Grains Dec, 30, 2019 0
- Grains Jun, 01, 2021 0
- Shipping May, 21, 2021 0