Mercosur Countries Raise Tariffs

Argentina, Brazil, Paraguay and Uruguay will apply the maximum tariffs on imports from outside Mercosur due to the crisis.

Tuesday, June 5, 2012

A statement from PROCOMER reads:
Brazil will apply the maximum fee allowed by the World Trade Organization (WTO) to a list of one hundred products imported from outside MERCOSUR, this is measure is being implemented in order to protect their industry from the international crisis according to a decree issued on May 28 and, based on a MERCOSUR resolution of December 2011 which allows four members (Argentina, Brazil, Paraguay and Uruguay) to raise common external tariff for 24 months, the decision has been adopted as a way to mitigate trade imbalances resulting from international economics, leaving each country to decide to create their own list of tariffs to be increased.

According to WTO, the tariff on industrial products will be raised to 35% and agricultural products to55%, "Brazil and Argentina have already formalized the decision and now must wait for Uruguay and Paraguay do the same. At the end of that process, each country will have 30 days to submit their list", said a source from the Ministry of Development, Industry and Foreign Trade of Brazil.



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