Brazil to cut tariffs on capital, technology goods in April where there is no domestic output

By Bernardo Caram

BRASILIA, March 17 (Reuters) – Brazil’s government will automatically cut import tariffs in April on capital and technology goods affected by a ​duty hike earlier this year if companies ‌claim there is no domestic production by the end of this month, a senior official said.

“This initial process is automatic. A company that submits a request and argues there is ‌no ​national production will receive the ⁠reduction immediately,” said Uallace ⁠Moreira, industrial development secretary at the Development, Industry and Trade Ministry.

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($1 = 5.2032 reais)

(Reporting by Bernardo Caram; Writing by Marcela Ayres; Editing ​by Hugh Lawson)