MercoPress. South Atlantic News Agency

US tariffs: Argentina and Uruguay charged only 10%

The new scenario could bring on some opportunities for Uruguay, Oddone noted

As the new tariffs scheme established by US President Donald Trump became effective Friday, Uruguay and Argentina were among the least affected countries, with surcharges of only 10%, a steep difference from Canada's 35% or Brazil's 50% and a default 15% surcharge unless otherwise specified.

Uruguayan President Yamandú Orsi reckoned that 10% was not “ideal,” but he nevertheless stressed the importance of constant communication between the Foreign and Economy Ministries in these situations. “This forces us to sit down and negotiate and talk, because this is just the beginning. As Mercosur, we cannot say that we were the most affected, because it is a 10% tariff,” Orsi also pointed out.

Economy Minister Gabriel Oddone highlighted that the new scenario could bring on some new opportunities for his country.

For Argentine President Javier Milei, who still wants a Free Trade Agreement (FTA) with the United States, 10% was somehow disappointing. Buenos Aires had also tried in vain to have certain products exempted from the taxation, but Trump was reluctant to include steel and aluminum.

Tariffs of 41% were reported for Syria, 39% for Switzerland, 30% for South Africa, and 15% for Venezuela, Ecuador, Bolivia, South Korea, and Israel, among others.

In addition, “some trading partners have agreed or are about to agree to significant trade and security commitments with the United States, indicating their sincere intentions to permanently remedy the trade barriers that contributed to the national emergency declared under Executive Order 14257, and to align with the United States on economic and national security issues,” the White House said.

“Other trading partners, despite having participated in negotiations, have offered terms that, in my judgment, do not sufficiently address the imbalances in our trade relationship or have not sufficiently aligned themselves with the United States on economic and national security issues,” Trump argued.