The decree that regulates the reciprocity law was published in the Federal Official Gazette on Tuesday (15). The measure was signed by President Lula on Monday (14) and is pointed out as an alternative for Brazil to react to the tariff announced by the president of the United States, Donald Trump.
The text brings the procedures that deal with “commercial concessions, investments and obligations to intellectual property rights”. Despite the request of some entities, so far, the Brazilian government has not requested the extension of the deadline for entry into force of the rate of 50%. No alternative rate was also requested. If the measure is maintained, the increase will be applied from August 1st.
The measure had already been approved by the National Congress in April this year. The new legislation allows Brazil to react to commercial barriers imposed by other countries, in which case 50% tariffs on Brazilian products announced by US President Donald Trump.
