The Venezuelan government has announced the removal or reduction of import tariffs on 27 essential consumer goods, including live cattle, fresh and frozen beef, various wheat products, garlic, cotton, broccoli, onions, cauliflower, sunflower seeds, lettuce, corn, soybean seeds, tomatoes, carrots, kidney beans, lentils, peas, milk, protein concentrates, and infant formulas. This move is expected to ease the pressure on local consumers and stabilize the supply of basic food items in the market. To qualify for the tariff exemption, importers must submit an application to the Food and Agriculture Department of the relevant committee and provide proof that domestic production is either insufficient or non-existent. If the imported item is a raw material, detailed information about the final product to be manufactured must also be included. In cases where the product is already a finished good, importers are required to provide details about their sales channels and distribution networks. The new decree will come into effect on March 4 and remain in force for one year, with the possibility of extension depending on economic conditions and policy review. This step marks a significant shift in Venezuela's trade policy, aiming to support both local industries and the general population during a period of economic instability. With this change, the government hopes to encourage more imports of essential goods while maintaining control over the flow of foreign products into the country. It also signals a potential easing of the country’s strict import controls, which have been in place for years due to currency shortages and economic challenges. This development is being closely watched by both domestic businesses and international traders, as it could lead to increased competition and better availability of everyday products across the nation.