Brazil will increase textile import tax

Given China's growing imports, the Brazilian government intends to revise its system of levying tariffs on textile products in order to prevent the soaring of textile products that have hurt domestic producers due to the so-called low prices.

According to sources, a report issued by the Brazilian Textile Industry Association stated that Brazilian authorities hope to implement these changes by the end of February.

At present, Brazil assesses the import tax on textile products based on a percentage of the value of consumer products. However, the government now proposes to establish different tax rates that will increase based on the number of imported products. The law to implement this change has already been drafted, but the details will be determined and the final measure has not yet been implemented.