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Colombia’s Ministry of Commerce has suspended a 35% tariff surcharge on imports of footwear from the Mercosur region.
The imposed tariff is now 1.05% for footwear imported from Argentina, Brazil, Bolivia, Ecuador, Paraguay, Uruguay and Venezuela. However, a tariff surcharge is to remain in force for footwear imported from countries outside the Mecosur bloc.
Abicalçados, the Brazilian Footwear Manufacturers Association, has welcomed the end of the Colombian Decree 1744 which taxed footwear imports in the US$6-10 price range at 35%, depending on their Mercosur Common Nomenclature (NCM). Colombia is an important market for Brazilian footwear but, due to the tax, shipments from Brazil recorded a 2% decline between January and June 2017 as the shoes entered a higher price tag.
Source: La Republica