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Brazil increases import tariffs on passenger car tires

Release Time:

Oct 08,2024

Recently, the Brazilian Foreign Trade Commission announced that it would increase the import tax rate on passenger car tires from 16% to 25% for one year. This decision was made at the request of the Brazilian National Tire Industry Association.

Recently, the Brazilian Foreign Trade Commission announced that it would increase the import tax rate on passenger car tires from 16% to 25% for one year. This decision was made at the request of the Brazilian National Tire Industry Association.

The association pointed out that tires imported from Asia are about 69% lower than the average price in the international market. If not restricted, it will have a huge impact on the domestic tire industry. In the end, the Brazilian Foreign Trade Commission maintained the tax rate on truck and bus tires and only increased the tax rate on passenger car tires.

Sunset Tires, Brazil's largest tire trading company, said that this is an inappropriate measure. Increasing import taxes only benefits some domestic manufacturers and harms the rights and interests of a large number of consumers. In the first half of this year, Western Europe, the Middle East and South America ranked in the top three regions for China's passenger car tire exports.

Among them, the main tire export market in South America is Brazil. As Chinese brand cars sell well in Brazil, the local market's demand for Chinese tires has increased significantly. This tax increase will undoubtedly have a certain impact on China's tire exports in the second half of the year. It is understood that some Chinese tire companies have noticed this situation and made arrangements in advance. It has successively sent inspection teams to Brazil to select sites, hoping to build factories to match Chinese automobile production bases in Brazil.

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