Brazil to begin import restrictions on goods from Asia

According to a report from Brazilian newspaper O Globo on Saturday, Brazil is planning to impose strict quality control measures on products entering Brazil from Asia, more specifically goods from China. The goods imported from Asian markets would have to pass standards set by the National Institute of Metrology, Quality and Technology (INMETRO) and other safety rules for domestic retail--if a product fails either test it will not be allowed to enter the country.  Steel products are one of the sectors that will be affected by this non-tariff protectionism being enforced by Brazil's government. While iron ore and soybeans equal 80 percent of good exported to China, Brazil's government has asked that China be more willing to accept manufactured goods as well as raw materials.