Alan Yanovich Comments on WTO/Brazil Trade Dispute
Alan Yanovich, senior counsel in Akin Gump’s international trade practice in Geneva, is quoted in the Financial Times article “EU launches trade dispute against Brazil.”
The article reports that the European Union has filed papers in the World Trade Organization against Brazil, because of what it says are protectionist taxes imposed on autos and other imports. The EU cites a 2011 move to impose a 30 percent tax on imported vehicles while exempting domestically produced cars and trucks.
The EU is Brazil’s largest trading partner and Yanovich, a former WTO lawyer, says the case could mark “the opening of the flood gates” against Brazil, with additional cases likely to follow. He adds, many companies “have been willing to put up with it because Brazil was such an attractive market. But, now that the Brazilian economy has slowed down, it may be that companies and other WTO members are less tolerant.”