Brazil's trade chamber, Camex, announced on Thursday its decision to eliminate import taxes on specific products to combat food inflation. The unanimous decision was communicated by Brazilian Vice President Geraldo Alckmin, who also serves as the Minister of Trade, Industry, and Development, in Brasilia.

Alckmin highlighted that these tax reductions are part of emergency measures aimed at lowering food costs to alleviate inflation pressures, particularly in the food sector. The government had previously implemented similar tax cuts.

The measures will come into effect on Friday and will be in place for as long as necessary to stabilize food prices. Alckmin mentioned that the estimated cost of the exemptions, assuming they last for a year, is 650 million reais ($112.07 million), but he anticipates a shorter duration.

The import tax exemptions cover various food products, including boneless beef, roasted coffee, coffee beans, corn, olive oil, sugar, cookies, pasta, and sardines.

Camex, overseen by Alckmin's ministry, is responsible for the country's trade policies and directives. (1 USD = 5.8001 BRL)