Brazil's government has temporarily lifted tariffs for certain energy, building, and consumer products in order to prevent price increases by protected local producers.
Wire rod, steel
beams, and steel wool were also among the products tariffs were cut for.
The tariff cuts were made as part of the Mercosur common market treaty which allows
Brazil,
Argentina,
Uruguay, and
Paraguay to temporarily reduce the group's 12 percent tax on all non-group imports.