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By Himfr Echo
Brazilian Foreign Trade Commission (CAMEX) said Tuesday, in support of currency appreciation due to hit the domestic manufacturers, CAMEX decided to raise tariffs on Chinese imports of toys from the existing tax rate of 20% to 35%. Brazil’s real currency exchange rate of Chinese yuan has appreciated over the past two years about 37%.
CAMEX is the Brazilian government responsible for the management of the three functions of the department of trade is one of Brazil’s foreign trade policy-making body. Its main functions and guidelines for the development of foreign trade policies, adjust the import and export duties and evaluation of exchange rate, monetary and financial measures to the impact on foreign trade.
“Confrontation” imported toys
According to Bloomberg News on Dec. 29 quoted CAMEX’s statement said that in the end of 2011, Brazil to China produced 14 kinds of toys import tariffs from the current 20% to 35% of these toys, including dolls, puzzles, tricycles, toys and electric trains toys.
The statement also said, CAMEX is subject to the request made by toy manufacturer in the transfer tax moves. The tariff increases will affect the January to November this year between the value of imports of about 2.9 billion related merchandise.
According to the Brazilian National Development Bank data, the exchange rate of RMB devaluation of the real impact this year in August in the year, Brazil imported goods from China amounted to 21.4 billion U.S. dollars, compared with the year 2009 150 million U.S. dollars increased by 37%. In addition, the Brazilian Toy Manufacturers Association has also said that this year’s toy sales in Brazil will reach 30 billion reais (about 18 billion U.S. dollars), of which imported products to account for about 49% market share, compared with 46.8% last year market share has slightly increased. Brazil, China Development Bank that the sharp growth in Chinese imports has affected the interests of Brazil related to the manufacturer.
Does not meet the requirements for WTO action
It is reported that this is not the first time this year, Brazilian imports from China to take restrictive measures. This year in March, CAMEX on the production of footwear from China collected $ 13.85 per pair of anti-dumping duties. May, CAMEX announcement that originated in China decided to change the taxation of glyphosate herbicide standards, the highest taxed $ 2.52 per kilogram. At the same time, CAMEX will also originated in China to make the ceramic magnet sunset review of anti-dumping final ruling, decided to levy 43% of the product concerned anti-dumping tariffs, valid for 5 years. The so-called “sunset review” refers to anti-dumping duty imposed 5 years after the expiration of the administrative review, also known as the expiry review.
Analysts say Brazil and there is a huge spread in developed economies, while developed economies since the financial crisis has been pursuing ultra-loose monetary policy, leading to the proliferation of global liquidity, a large number of sets of rate funding into Brazil and other emerging economies, leading to mine Royal exchange-rate appreciation. But this does not become a reason to raise tariffs on imported products.
China WTO Research Association Professor Zhou Shijian told reporters China Securities Journal said tariffs on Brazilian imports of Chinese toys increase is actually set up trade barriers, trade protection is an act in the World Trade Organization, China (WTO) dispute settlement mechanism to consult the relevant departments and Brazil. He said: “The Brazilian real exchange rate of the recent sharp appreciation of the dollar currency in the junk should be blamed, rather than let the yuan as a scapegoat. WTO anti-dumping countervailing and is expressly provided, no one is related to exchange rate Therefore, the Brazilian Government’s decision is inconsistent with relevant WTO provisions. “
About the Author: My name is Himfr Echo, I am a editor from frbiz.com, and what I do is just to prmote a free online trade platform. http://www.frbiz.com/ contain a great deal of information about
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