Brazil lobs 16% tax on US ethanol imports

In Brazil, Reuters reports that the country has withdrawn its tax exception on ethanol imports from the US and will now lob a 16% tax on imports that will increase to 18% on January 1. Former president Bolsonario eliminated the import tax that allowed ethanol to flow primarily to the country’s deficit northeastern region, but just days before the new president Lula heads to Washington to meet with President Biden, the return of the tax was published on the agriculture ministry’s website.