Insight: Brazil protects its ... wines?
Insight: Brazil protects its ... wines?
Jun 13, 2012 6
(Reuters) - Brazil is widely celebrated for having some of the world's best beaches, soccer, and Carnival festivities.
Wines? Um, no.
Nevertheless, Brazil is considering steps to protect its tiny domestic wine industry from an onslaught of imports, in what may be the most bizarre - and controversial - example to date of rising trade protectionism in South America.
President Dilma Rousseff's government recently agreed to evaluate an emergency request from Brazilian wine producers that, if approved, could raise tariffs on many imported wines from countries including Chile, France and Spain. A final decision is expected by August, officials say.
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