Ceará Tariffs: State Faces 37.5% US Duties
New US tariffs hit 96% of Ceará's exports to America, with industrial goods facing 37.5% duties. Honey and cashews escape, but shoes, steel and machinery pay the price. The post Ceará Tariffs: State Faces 37.5% US Duties appeared first on The Rio Times .
Ceará, a Brazilian state in the Northeast, faces a 37.5% US tariff on nearly all its exports to the United States, according to a study by O Povo. This covers industrial goods like steel, footwear, and electrical machinery, with 96.5% of affected products being industrial output. The tariffs, which include a 25% tariff as of 22 July and an additional 12.5% effective 23 July, will significantly impact Ceará's economy.
The state sends 46% of its exports to the US, making this a direct hit to its economic engine. Industries like footwear, machines, and electrical equipment are particularly affected, with local officials already discussing diversification of markets. However, some sectors like beekeeping, cashew nuts, and coffee are exempt from the tariffs.
The fiscal impact could add up to R$ 56 million (US$ 11 million) in tax revenue for Ceará over six months, before the additional 12.5% tariff is applied.
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