"I Don't Know Shein, I Know Amazon, Where I Buy Books Every Day", Says Finance Minister

Fernando Haddad, says that equality in conditions for competition is the best thing that can happen to the consumer

The Finance Minister, Fernando Haddad, said this Thursday (13) that the decision by President Luiz Inácio Lula da Silva's government to end the exemption for international orders of up to US$ 50 aims to guarantee fair competition among Brazilian retailers. and companies from outside the country.

In an interview with GloboNews in Shanghai, where he is accompanying Lula on an official visit to China, the minister stated that there is a lot of confusion and misinformation regarding the measure and that there are complaints from Brazilian companies about what they see as "unfair competition", mainly on the part of Chinese retailers selling to Brazil via the internet.

Brazil's Finance Minister Fernando Haddad speaks during a news conference, at the Brazilian Embassy in Beijing, China April 14, 2023. REUTERS/Tingshu Wang/Pool - REUTERS

"I have noticed a lot of confusion and a lot of misinformation. The complaint by some companies is that there is a kind of unfair competition on the part of some websites, not all of them", said Haddad to the broadcaster.

"So this is being investigated and can be curbed. The best thing that can happen for the consumer and for the Brazilian economy is equality in competition. You have to have equal conditions for competition. When that doesn't happen, it greatly hurts the economy," stated the Minister.

The government's decision to end the exemption for international orders of up to US$50 is part of an effort to tax purchases made at large international retailers, which has generated a wave of criticism and reactions on social networks in Brazil. Although Chinese companies have grown in popularity in Brazil, the minister has stated that the initiative is not focused on specific companies.

"You talk about Shein as if I knew what it means. I don't know Shein. The only portal I know is Amazon, I buy a book every day, at least", said Haddad this Thursday to journalists.

Translated by Cassy Dias

Read the article in the original language