Not surprisingly, those countries that protect their farmers most wanted a conversion formula that translated specifictariffs into lower percentages, as that would imply smaller cuts down the road.
The new ruling, passed June 3, gives Brazilian government owned power company Eletrobras (EBR), along with national and international equipment partners, the ability to buy capital goods, building materials, infrastructure materials and nuclear industry specific technologies for use in energy generation without having to pay the IPI, or industrial production tax, nor tariffs on imported goods.