Brazil Calls for Mercosur Modernization
Brazil’s economic minister recently said South American countries need to modernize the Mercosur trade bloc and embrace ‘broad-ranging” revisions, the Hong Kong Trade Development Council reported Sept. 2. Minister Paulo Guedes suggested a 10% reduction in the bloc’s common external…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
tariff and said member states should be allowed to “carry out trade negotiations independently of their trade bloc peers,” HKTDC said. Guedes noted other regional blocs signed free trade deals in recent years and said Mercosur remains “a prisoner of an alliance that is unable to modernise,” the report said. The modernization effort is supported by Uruguay but has seen “significant pushback” from Argentina, HKTDC said.