WTO to set up panel on Brazil import taxes

17/12/2014 12:00 - 511 Views

(GENEVA) - The World Trade Organization will set up a panel to settle a complaint brought by the EU against Brazil over what it sees as protectionist taxes that discriminate against imports, a source said Wednesday.

The decision was taken at a meeting Wednesday of the WTO's Dispute Settlement Body and the panel of trade law experts will be set up in the coming weeks.

After an investigation that could last several months the panel will decide on the case.

The European Union has reproached Brazil for imposing taxes that discriminate against imports, including EU imports, and favour Brazilian manufacturers in violation of international trade agreements.

The EU has complained about a 30 percent tax on imported vehicles but not cars assembled in Brazil, as well as similar measures concerning computers, smartphones and semiconductors.

Brazil has repeatedly denied the taxes are protectionist.

On Wednesday Brazilian representatives expressed disappointment that the case will proceed but confidence it would be able to convince the panel's experts that the measures are in compliance with trade rules.

The EU is Brazil's top commercial partner accounting for 28 percent of its trade.

Source: eubusiness.com