“It does retain tariff rate quotas but has reduced the number of products covered, from 16 in 2001 to only 8 in 2015, and the quotas for these products have been substantially increased. In comparison, the U.S. maintains tariff rate quotas on 9 products.”
In 2010, Brazil adopted a slew of protectionist industrial and trade policies that favored domestic production but under President Michel Temer, the South American giant has expressed a willingness to embrace a more open trade policy as it attempts to recover from an economic recession.
India, meanwhile, has a long history of defending major industries, particularly farming and pharmaceuticals, but Finance Minister Arun Jaitley has said his country aspires to be more open.