Brazil Will Change Its Taxation Method For Chinese Textiles
Brazil's finance minister Guido Mantega said today that the Brazil government will ask the world trade organization to authorize the temporary import of Chinese textiles for a period of 10 years.
In order to protect the domestic textile industry, the government of Brazil will change the way of levying taxes on Chinese textiles.
Mantega pointed out that this calculation method will avoid importing from China at present.
"Some Chinese garments are imported at a price of 3 US dollars or even 1.5 dollars," he said. "This price is not enough to buy buttons."
The Brazil government is prepared to take protective measures similar to previous measures to prevent the import of Chinese toys.
Mantega pointed out that next year, the Brazil government will continue to take measures to protect national industries, but it does not specify what industries will be involved.
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