Brazil levies temporarily duty suspension for polyester yarn
Brazil’s Foreign Trade Chamber (CAMEX) established on January 18 a tariff rate quota for imports of partially oriented polyester yarn to correct a lack of supply in the Brazilian market and a maximum of 88000 t will benefit from a reduced duty rate of two percent up to July 17, 2013. Out-of-quota merchandise is subjected to a regular MFN duty rate of 18 percent. The quota imports are subject to non-automatic licensing requirements, with the required licence granted under Brazil’s electronic foreign trade system 8SISCOMEX). Individual Importers were initially provided with a maximum amount that varies depending on the specific quota requirements.