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Financial News: BRAZIL: Government To Wait For Supreme Court Ruling

BRAZIL: Government To Wait For Supreme Court Ruling On Freight Table

06/19/2018 - 12:42:00 (RTTNews)

(RTTNews) - President Michel Temer said Monday that the Brazilian government should await the decision of the South American country's Supreme Court (STF) on the minimum freight price table for road transport.

Temer added that the government would obey the decision of the Supreme Court and considered that the contrary position of country's antitrust watchdog (Cade) to the tabulation would not hinder the solution of the issue. His statements were made at a press conference in Paraguay after lunch with representatives of Mercosur in Asuncion.

While Cade said no to the tabulation, the Brazilian Land Transport Agency (ANTT) defended the measure. The divergent positions were sent by both federal agencies to the STF, which examines the constitutionality of the measure. Cade is under the umbrella of the Ministry of Justice, while ANTT is attached to the Ministry of Transport. Cade argued that freight tariffs limit competition, harming society and creating a kind of cartel in the industry.

The table was set in an agreement between the government and truck drivers' representatives during the talks to end an 11-day strike that affected supplies across the country, hampering various sectors of the economy. The tabulation, however, was contested in the STF by agricultural and industry entities.

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