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MercoPress, en Español

Montevideo, December 5th 2025 - 09:41 UTC

Economy

  • Friday, April 11th 2025 - 22:54 UTC

    Argentina announces end of currency controls and introduces exchange rate band

    Economy Minister Luis Caputo said in a press conference at the Casa Rosada that the official exchange rate will now float between 1,000 and 1,400 pesos per US dollar

    The Argentine government announced today a sweeping overhaul of its foreign exchange regime, set to take effect on Monday, including the end of currency controls and the introduction of a managed float within a fixed exchange rate band. The move marks the beginning of what authorities are calling “Phase 3” of their economic program.

  • Friday, April 11th 2025 - 19:19 UTC

    Argentina: Inflation in March hits 3.7%

    The Indec's figures were worse than Milei's Government had expected

    Argentina's Consumer Price Index (CPI) for the month of March reached 3.7%, the National Institute of Statistics and Census (Indec) reported Friday. These figures marked a sharp increase from February's 2.4% and January's 2.2%. The rise was driven primarily by higher food prices, particularly meat and vegetables, with public services also playing a role. Internannual inflation stood at 66.9% and 4.7% so far in 2025.

  • Friday, April 11th 2025 - 08:42 UTC

    US official admits no more meat to be bought from Argentina

    “The strategy and the plan are moving forward,” Rollins explained

    US Secretary of Agriculture Brooke Rollins confirmed that her country would not be purchasing any more meat from Argentina in a protectionist move to preserve local production. “No more meat from Argentina,” she said during a Fox News interview.

  • Thursday, April 10th 2025 - 19:29 UTC

    US Secretary of the Treasury due in Buenos Aires next week

    Thanks to Milei, the relationship between the United States and Argentina is stronger than ever, Bessent said

    US Secretary of the Treasury Scott K.H. Bessent will arrive in Buenos Aires next Monday to bolster support for Argentine President Javier Milei’s economic reforms, it was announced Thursday.

  • Thursday, April 10th 2025 - 10:40 UTC

    Trump lowers huge tariffs for everybody but ups those for China

    “I have authorized a 90-day pause and a substantially lowered reciprocal tariff,” Trump explained

    US President Donald Trump Wednesday announced a 90-day freeze on reciprocal tariffs for most countries, reducing them to a 10% baseline, while raising tariffs on Chinese goods to 125%, effective immediately. The decision followed negotiations with over 75 nations interested in new trade terms, spurred by Trump’s initial tariff announcements last week.

  • Wednesday, April 9th 2025 - 10:57 UTC

    Trump ups tariffs on Chinese products to 104%

    Beijing will have to “make a deal at some point,” Trump stressed

    US President Donald Trump has escalated the trade war with China by imposing a 104% tariff on all imports from that country, effective immediately, the White House announced Tuesday. This follows China’s retaliatory 34% tariff on US goods to take effect on Thursday.

  • Wednesday, April 9th 2025 - 08:04 UTC

    Mercosur forecasts excellent rice crop, but with India back in the market, prices are expected to fall

    Record rice harvests in Uruguay but logistic costs are too high and tariffs are also a challenge

    Mercosur is expecting one of the best rice harvests of the last decade, and particularly in Uruguay (exporter of prime quality rice), yields of harvested fields are indicating possible new records. However Uruguay rice farmers are facing trade, price and logistics hurdles, according to farmer Karol Pinczak.

  • Wednesday, April 9th 2025 - 07:36 UTC

    Strong global market for beef, but Argentina is not keeping pace with other main exporters, BCR report

    In the first two months of 2025, main exporters, Brazil, Australia, Uruguay and Paraguay increased volume and revenue from sales of beef, while Argentina shipped 26% less

    Argentina’s beef exports totaled 96,805 metric tons in the first two months of 2025, down 26.1% from the same period in 2024, according to a report from the Rosario Board of Trade BCR. This has meant that in terms of revenue, exports fell 3.8% year-over-year to US$474.5 million for January and February combined.

  • Tuesday, April 8th 2025 - 10:55 UTC

    Brazil strong enough to weather Trump's tariffs, says Lula

    Brazil's economy “only depends on us Brazilians,” Lula argued

    Brazilian President Luiz Inácio Lula da Silva Monday underscored his country's strong international reserves (US$ 370 billion) to withstand global challenges, including Donald Trump's tariffs. He also highlighted his administration's measures to boost credit and consumption.

  • Tuesday, April 8th 2025 - 09:17 UTC

    Economists forecast Argentina's inflation to near 3%

    The REM did not include recent shakeups from Trump's tariffs

    Argentina's Central Bank's (BCRA) issue of the Market Expectations Outlook (Relevamiento de Expectativas del Mercado - REM) released Monday with data collected between March 27 and 31 among 39 experts raised the inflation forecast for last month to 2.6% from the previous 2.2%, which would represent an acceleration from January’s 2.2% and February’s 2.4%.