Mercosur countries have decided to ease common external tariffs on the 50 products of their respective members, increasing the flexibility to negotiate transactions when avoiding Donald Trump’s tariffs or trying to retaliate against them.
The decision took place in Buenos Aires during a meeting of foreign ministers in the Bloc, originally formed by Brazil, Argentina, Paraguay and Uruguay, Bloomberg reported.
“The Minister agrees that it is important to face the challenges presented by the current foreign environment,” they wrote in a statement, referring to an international scenario that is “continuously changing.”
Those familiar with negotiations said the request made by Argentina for dinner at Thursday’s dinner was well received by other Mercosur members, and the need for an additional exemption was agreed. It is up to the country to decide which products will be added to the exemption list and what their duties are.