Brazil cancels tariff exemption policy for BYD electric vehicles from China

Foreign media: Brazil has canceled the tariff exemption policy for Chinese automaker BYD, which allowed electric vehicles assembled using imported Chinese parts to enter the Brazilian market at a lower cost. The exemption expired on January 31 and was not renewed.

Previously, American, European, and Japanese automakers jointly lobbied to end the preferential rules for importing Chinese parts.

In the future, companies such as BYD and Great Wall Motor will have to pay higher import taxes under the new regulations. The import tariffs for SKD (Semi-Knocked Down) and CKD (Completely Knocked Down) will rise from 18% and 16% to 35%, significantly increasing the costs for companies relying on imported parts.

Original article: toutiao.com/article/1856277557354504/

Statement: This article represents the views of the author himself.