The core contents of this tariff adjustment include: reducing the import tariff of core safety components such as elevator safety gear, governor and buffer from 14% to 4%, with a 3-year transition period; increasing the import tariff of complete elevator products from 16% to 22%, and simultaneously canceling the original preferential tax policy for complete machine imports; clarifying the rules of origin for elevator products, and strengthening the tariff collection and management of imported products from non-Southern Common Market countries. The policy will be officially implemented on October 1, 2024, aiming to promote the upgrading of Brazil's local elevator industry chain, reduce the procurement cost of core components, and protect local elevator complete machine manufacturers.