27 Dec 2018
Mercosur Approves Brazilian Request to Lower Duties on 49 Chemical Substances
The Mercosur Common Market Group has approved a request by Brazil to lower to two percent the most-favoured-nation import duty on 49 chemical substances. According to Brazil’s Ministry of Industry, Foreign Trade and Services, this action is the result of a consensus between the domestic manufacturing sectors of Brazil, Argentina and Uruguay. These duty reductions are expected to enter into force on 1 March 2019.
In a separate action of potential interest, Brazil has removed articles of plaster or of compositions based on plaster, faced or reinforced with paper or paperboard only, classified under NCM 6809.11.00, from its list of exceptions from the Mercosur common external tariff. As a result of this action, Brazil’s MFN duty on imports of subject merchandise has fallen from 25 percent to 10 percent.