Brazil Wants to Keep Preferential Trade Status with US

At the end of this year the United States’ General Preferential System, which gives certain countries, among them Brazil, special trade status and zero-tariff access to the US market for some goods, is scheduled to be phased out.

Roberto Abdenur, the Brazilian ambassador in Washington, says he would like to see the system extended in the case of Brazil. He points out that a large part of the US$ 3 billion Brazil exports to the US under the terms of the GPS are goods made by US subsidiaries in Brazil.

Under the GPS, in 2004 Brazil economized US$ 98 million in exemptions. Brazil’s total 2004 exports to the US reached US$ 21 billion, with 15% (US$ 3 billion) getting GPS reduced import tariffs. That was only slightly less than India, with US$ 3.270 in GPS exemptions.

Foreign Trade

Brazilian exports continued strong at the beginning of June, reaching US$ 1.108 billion for the first two working days of the month, while imports reached US$ 587 million, for a surplus of US$ 521 million.

That brings Brazil’s trade surplus for the first 105 working days of 2006 to US$ 15.985 billion, which is actually 1.86% less than the surplus was for the same period in 2005. .

Total exports for 2006 are now at US$ 50.574 billion, up 12.44% over the same period in 2005. Meanwhile, exports reached US$ 34.589 billion, up 20.56%.

ABr

Tags:

You May Also Like

Brazil Makes It Much Easier for Foreign Investor

The number of foreigners interested in opening small businesses in Brazil has risen in ...

2022. Child Labor in Brazil Might Be History by Then.

A considerable reduction in child labor is expected to occur in Brazil by 2015, ...

White-House Inspired

If it weren’t for President Clinton, the song "Boquete" would probably still be in ...

Brazil Opens Technology Center in Africa

The opening of a Brazilian Agricultural Research Corporation (Embrapa) office in Africa is going ...

Confessed Murderer of Indian Released from Jail in Brazil

The man who confessed to the murder of Dorvalino Rocha, a Guarani Kaiowá leader ...

Brazil Is Losing Competition Race, Warns American Chamber of Commerce

“We are losing the race in relation to other countries” was the warning sounded ...

Bureaucracy in Brazil: it's not smart to avoid it by greasing hands

Bribing May Be the Rule in Brazil, But It’s Not Smart or Legal

My previous article provided you with a basic understanding of Brazil’s legal system and ...

A Morte e a Morte de Quincas Berro Dágua

Jorge Amado By Jorge Amado Jorge Amado, who died August 6, 2001, four days ...

Brazil’s Eletrobrí¡s Gets Green Light to Sell Stocks in New York

Eletrobrás, Brazil's state-owned power company was licensed last Friday, September 26, by the United ...

How Brazil’s Northeast Fits into Plan of Fueling World with Ethanol

Brazil's plans of introducing ethanol into the global market are bold. And very bold, ...