Brazil increases import tariffs, affecting China

Brazil has decided to increase the import tariffs it imposes on hundreds of products, the Foreign Trade Commission of Brazil said on Wednesday.

The change is meant to encourage Brazilian companies to make similar products amid the current global economic troubles.

According to the new measures, which will be in place for a year, the import taxes Brazil imposes on bicycles and car tires will increase from 16 percent to 25 percent, on mineral oil from 4 percent to 25 percent, on aluminum plating from 14 percent to 20 percent, and on potatoes from 14 percent to 25 percent.

Also on the list are building materials, such as glass and tiles, some machinery equipment and pharmaceutical raw materials.