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Brazil to lift U.S. ethanol import tax on one condition

Source: Wikimedia Commons

Brazil is considering removing its 20-percent tariff on United States ethanol imports. A Brazilian agriculture official tell Reuters the decision depends on the United States’ willingness to lift its ban on fresh beef exports from Brazil.

Brazil last year imposed a tax on United States ethanol imports exceeding its 600-million liter annual quota. The decision aimed to protect local producers. However, some believe Brazilian officials imposed the tariff in spite of the United States’ ban on fresh beef shipments from Brazil following food safety concerns.

Brazilian officials say the ban on fresh beef exports could be lifted come April. The country submitted all materials requested by the United States. Brazil awaits a decision from the United States who will decide whether or not the issue has been resolved.

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