To increase the added-value of exported products, currently the Brazil government is researching to impose 5% tax on exported iron ore. The move will have an impact on the resource supply of big Brazil’s iron ore importers such as EU and China.

During the 2007-2008 period, at the stage of the hiking foodstuffs’
price, some governments of foodstuffs producing countries had started
the policy of imposing foodstuff exports to control the rapid climb of
the domestic foodstuffs. WTO, UN and IMF had called on these countries
to cancel levying tax.

In order to avoid the similar thing again, EU submitted the advice to
WTO at the end of 2008 that WTO should lay down the export rate
regulations and set the upper limit.

Source: MetalBiz

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