Brazil raised the tariff on natural rubber imports from 3.2 to 10.8 per cent. The federal government approved the increase at a meeting of the Executive Management Committee of the Chamber of Foreign Trade (Camex), according to information released by the Ministry of Agriculture and Livestock on August 15, 2023.

The higher rate will be in effect for 24 months. According to the ministry, Brazilian heveculture faces hindrances due to the sharp drops in the international price of elastomers and the consequent loss of competitiveness compared to products imported by Brazil from countries in Southeast Asia.

Early this year, Brazil resumed the taxation of imported tires the previous government had withdrawn. The minister of Agriculture and Livestock, Carlos Fávaro, said the current measure - higher tariffs on natural rubber - strengthens the production chain from the producer to the national industry.