US exporters have been hit with an additional tariff by Brazil, a WTO-backed retaliation for what it calls “illegal” subsidies to US cotton farmers, reports Tire Review. Brazil’s new tariff structure, set to engage in 30 days barring a last minute agreement between the two countries, hits a wide range of products, including cars (from 35 to 50 per cent), cotton and cotton products (a full 100 per cent increase) and – most importantly around these parts – tyres (jumping from 16 to 32 per cent). In all, some 100 goods are now subject to higher import rates by Brazil, and could total $830 million annually... Please login below.

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