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May 06, 2020
Brazil announced the temporary reduction of tariffs for certain items, many of which are related to the automotive, aerospace, and other sectors. Automotive and aerospace tariff reductions are in place until 2021.
The reductions will be a tremendous help to Michigan companies looking to expand into South America’s largest market of approximately 200 million consumers. In 2019, Brazil was ranked as the ninth largest market for Michigan exports. The tariff reductions remove barriers and will make the market easier to access than ever before.
Interested in learning about what this means for your bottom line?
To see if your company is impacted, check the harmonized codes for automotive and aerospace products. Learn more about these opportunities and other tariff reductions by contacting your International Trade Manager today and get connected with MEDC’s local experts in Brazil.