Brazilian import tariffs on furniture may increase
2007. The government of Brazil was considering raising the common external tariff from 18% to 35%.
Jun 04, 2007. /Lesprom Network/. The government of Brazil was considering raising the common external tariff from 18% to 35%, ITTO reported according to Infomoney information. The proposal, made by the treasury department, was designed to protect domestic producers against a flood of foreign products due to the depreciating US dollar. The Brazilian Association of Furniture Companies (Abimóvel) favors the measure, as exports of products have fallen between 2005 and 2006. Furniture exports in 2005 reached $991 million, and fell to $945 in 2006. At the same time, imports increased 26%, from $108 million in 2005 to $136 million in 2006. Abimóvel suggested that furniture prices in the Brazilian market were not likely to incrase, since consumption of Brazilian furniture reached only BRL 13.3 million ($6.9 million) out of which 2.2% corresponded to imported furniture products.