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MercoPress, en Español

Montevideo, May 23rd 2025 - 09:58 UTC

Economy

  • Saturday, April 12th 2025 - 10:50 UTC

    Mercosur FMs agree to expand exceptions to CETs

    The meeting was good, albeit tense in some environments

    Southern Common Market (Mercosur) foreign ministers meeting in Buenos Aires on Friday agreed to temporarily expand the National List of Exceptions to the Common External Tariff by up to 50 codes per member state in response to global trade tensions, following US President Donald Trump's barrage of import surcharges.

  • Saturday, April 12th 2025 - 10:49 UTC

    Lula enacts Reciprocity Law in reaction to Trump's tariffs

    With the new law, Brazil's Camex will have the power to apply proportionate retaliatory measures

    Brazilian President Luiz Inácio Lula da Silva enacted the so-called Reciprocity Law on Friday, whereby the federal government can react whenever countries or economic blocs create measures restricting Brazilian exports, be it in the form of surcharges or objections to the origin of the product. The measure is to be published in Monday's issue of the Diário Oficial da União (Federal Official Gazette).

  • Saturday, April 12th 2025 - 10:44 UTC

    WB and IDB pledge further funding for Milei's Argentina

    The IDB and WB announcements came after the IMF's Board approved a US$ 20 billion loan

    The World Bank (WB) announced Friday a US$ 12 billion financing package for Argentina over three years to support economic stabilization and reforms. Pending board approval, the initiative consists of several contributions as follows:

  • 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.