Brazil to cut import tariffs by 10 percentage points: economy minister

Brazil plans to reduce import tariffs by 10 percentage points during the new government’s four-year term, Economy Minister Paulo Guedes said on Friday, a move away from the direction currently being taken by countries such as the United States.

Guedes announced the average tariff reduction at an event in Rio de Janeiro, saying there will be a cut of 1 percentage point in the first year, 2 in the second, 3 in the third and 4 in the fourth.

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