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Brazil will evaluate the impact and legality of Argentina’s latest trade barriers

Thursday, February 2nd 2012 - 05:47 UTC
Full article 29 comments
Foreign Trade secretary Tatiana Prazeres made the announcement Foreign Trade secretary Tatiana Prazeres made the announcement

The Brazilian government expressed concerns over the new Argentine trade barriers going in effect on Wednesday and informed that it would “evaluate its impact and legality” before making any decisions, Foreign Trade secretary Tatiana Prazeres announced.

“We’re still worried about this and we’re in permanent contact with the Brazilian private sector and the Argentine Government in order to try and understand the economic impact of this new legislation and its judicial consistency” Prazeres said during a press conference.

Argentina’s new trade barriers force importers to sign an affidavit detailing their purchases in order to be granted authorization to bring imported goods into the country.

Brazilian authorities said they would their time to evaluate the effects of the new measures on bilateral trade and whether or not they are in accordance with international law.

Prazeres chose not to foretell any of the possible measures that the Rousseff administration could take in reciprocity, but insisted that they will work hand in hand with the private sector in order to avoid hurting exporters.

The Argentine Government set up a new set of requirements for imports in order to ensure a trade surplus and stop capital flight amidst the global economic crisis.

Brazilian industrial leaders have called these a “barrier,” that they assure will affect bilateral trade. Paraguayan and Uruguayan manufacturers also criticized the new trade requirements, which come in addition to the already existing non automatic import licences.

Argentina is Brazil’s third largest trade partner, with a net worth of 33 billion dollars in 2011, which resulted in a deficit for Buenos Aires of 5.8 billion dollars (up 20% over 2010) according to Industry minister Debora Giorgi.

From Paraguay the Vice-president of the Industrial Union, Eduardo Felippo anticipated that the latest set of Argentine restrictions will hit particularly hard the textile industry.

“The measures can be defined as an extra-tariff barrier and could be far more complicated compared to what we were dealing with so far”, said Felippo.

Top Comments

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  • MurkyThink

    This article says :

    Brazil will evaluate the impact and legality of Argentina's latest trade barriers.............

    I say :

    Foreign Trade Secretary Tatiana Prazeres is the Sarah Palin of Brazil....

    Feb 02nd, 2012 - 09:02 am 0
  • yankeeboy

    Brazil will limit car imports as retaliation and shut down the auto industry in ARG. CFK will cave and re-open the imports. I think they are trying to hold off until they see what the Soy crop looks like and they can try to calculate the trade balance to see what they can really afford to let in. It is a game a chicken with a much bigger chicken. Arg will lose in the end as they always do.

    Feb 02nd, 2012 - 11:53 am 0
  • tobias

    yankeeboy, why do you loathe Argentina so much, just curious?

    Feb 02nd, 2012 - 05:11 pm 0
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