Monday, March 8, 2010

Brazil to Screw Its Consumers

This is going to start a 30 day shopping stampede.

In 30 days, Brazil may impose heavy tariffs across the board for goods coming out of the U.S. Reports FT:
Under the Brazilian plan, duties would rise most steeply on cotton products. Many that are currently taxed at between 6 per cent and 35 per cent would be taxed at 100 per cent. The tariffs on beauty products would double, from 18 per cent to 36 per cent. Duties on household goods such as cookers, refrigerators, TVs and video cameras would also double, from 20 per cent to 40 per cent. Duties on cars would rise from 35 per cent to 50 per cent.
Full details are here.

Thanks to CW.

1 comment:

  1. Its not clear from the article but it sounds like the U.S. is already screwing its taxpayers by subsidizing the U.S. cotton industry. So the solution might be to simply stop the subsidy. Otherwise the citizens of both countries will be screwed by their respective governments...nothing new about that!