Brazil reduces import taxes to zero on 11 basic products
Brazilian President Luiz Inácio Lula da Silva ordered the reduction to zero of import taxes on 11 basic products to protect the most vulnerable families
The Brazilian government, following orders issued by President Luiz Inácio Lula da Silva earlier this month, implemented a zero import tax reduction on eleven basic products.
The measure applies to meat, sardines, roasted coffee, coffee beans, olive oil, sugar, palm oil, sunflower oil, corn, pasta, and cookies. With this zero tax reduction, the president “aims to especially protect low-income families, who will be able to spend up to 40 % of their income on food.”
This decision is expected to contribute to increasing the food supply, in addition to reducing market prices and thus multiplying the availability of these items in the domestic market.
The Brazilian president is focused on reducing shortages and ensuring the most dignified living conditions for the population. “The government indicates that the measure will be accompanied by other structural actions, preserving the sustainability of the national production chain.”
M.Pino
Source: americaeconomia
(Reference image: Paul Teysen on Unsplash)
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