Brazil to Raise Its Tariff on Foreign EVs to 35% in 2026

According to data from Brazil’s Ministry of Development, Industry, Trade, and Services (via Reuters), passenger car imports rose by 46.4%. Chinese vehicles alone accounted for 40% as imports surged 450% over last year.

The ministry’s statistics coordinator said, “These purchases from China that are driving the increase in vehicle imports are mainly of electric and hybrid engines.”

According to data from the Brazilian Electric Vehicle Association, Brazil’s electrified car sales soared 145% in the first three months of 2024 to 36,090. BYD led the charge with 14,939 units sold, GWM was second with 5,735, while Toyota placed third with 5,049.

BYD continues expanding overseas, with the Dolphin Mini landing in Chile this week.

Strange. Nations seem to be more concerned about protecting domestic auto producers than saving the planet from global warming? LOL

To repeat the ‘iron law of climate policy’ –
When policies on emissions reductions collide with policies focused on economic growth, economic growth will win out.



The world’s biggest banks can’t live up to the green regulatory ideal unless they start dumping huge numbers of clients worldwide at a reckless pace and also roil economies in large swathes of the globe that primarily rely on dirty fuels. Faced with that dilemma, many lenders are quietly reeling in their climate ambitions.

“Banks are living and lending on planet earth, not planet NGFS,” Berkey told the group in an impassioned speech, alluding to the Network for Greening the Financial System, a collection of central bankers that creates model scenarios for how the energy transition may evolve…

The UBS banker’s outburst, which got little pushback from those present, exposes the cracks emerging in a multitrillion-dollar transition finance project, and taps into what’s rapidly becoming one of the most contentious issues in the global banking industry.


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Brazil has always been very protectionist. Not strange, the policy is called “Import substitution”

or “Technology transfer”

What is Technology Transfer? (Definition and Examples) - TWI.

Saving the planet is a policy that rich countries can afford, the rest worry about putting food on the table.

The Captain