Tag: protectionist measuresprotectionist measures
The International Monetary Fund Director for the Western Hemisphere, Alejandro Werner, warned on Monday about the “negative effect” that the existence of two foreign currency exchange markets and protectionist policies bring to Argentina.
Brazil has virtually frozen political and economic relations with Argentina following serious discrepancies that were confirmed during the recent summit of presidents Cristina Fernandez with Dilma Rousseff who cut short the originally scheduled two-day visit to Buenos Aires.
Vice-president Danilo Astori admitted on Friday that economic-trade relations with Argentina continue to deteriorate and seriously question Mercosur and Uruguay must therefore speed the search for other alternatives.
President Jose Mujica anticipated that the Argentine economy can’t remain ‘closed for much more time’ (protectionist) and forecasted that 2013 will be a ‘clear year’ for Uruguay regarding economic issues.
Spain has taken a step back with import restrictions on Argentina’s bio-diesel applied in a reprisal move after Argentine president Cristina Fernandez decided to seize control of energy company YPF, subsidiary of Spanish Repsol, earlier this year.
Mexico will ask a World Trade Organization panel to adjudicate a dispute over trade restrictions with Argentina, said Economy Minister Bruno Ferrari.
The Brazilian government approved a 25% tariff increase on an additional list of 100 goods from outside Mercosur and at the same time announced the implementation of a monitoring scheme for those items’ prices in the domestic market to avoid unduly increases.
Argentina’s Industrial Union, UIA, called on the government of President Cristina Fernandez to ease the imports of inputs for manufacturing, which is suffering from shortages caused by severe controls, although at the same time was supportive of official policies to boost industry.
The Argentine ambassador to the United States, Jorge Argüello, warned that the world is infested with the “ghosts of a trade war” as he witnesses the protectionist measures applied by developed countries.
For the second time in the roll a study from World Bank’s Global Trade Alert points Argentina as the world’s most protectionist country. In a report released by the institution, Argentina appears as the country which applies the most restrictions to control foreign trade for the second time in a roll.