Get our news on your inbox! x

Remember me Forgot password

MercoPress, en Español

Montevideo, October 30th 2025 - 21:37 UTC

Tag: Tariffs

  • Monday, April 7th 2025 - 10:12 UTC

    Early dawn stock markets show significant declines

    Donald Trump's tariffs set stock markets worldwide on a slide

    Australia's and most Asian stock markets experienced significant declines early Monday amid the global tariff war triggered by U.S. President Donald Trump. The Hang Seng Index in Hong Kong dropped 9.1% to 20,778.10, with a peak intraday fall of 10.2%, marking its worst day in over a year. Across the Asia-Pacific, 11 of 14 equity markets hit 52-week lows. In mainland China, the CSI 300 Index fell by 7.6%, while the Shanghai and Shenzhen Composite Indexes dropped by 7.4% and 9.8%, respectively. Japan’s Topix and Nikkei indexes also slumped, by 9.6% and 6.5%, respectively.

  • Saturday, April 5th 2025 - 10:09 UTC

    Trump's measures make dollar rise in Brazil

    Emerging markets such as Brazil were hit hard by developments in the US

    The quotation between the Brazilian real and the US dollar rose Friday to US$ 1 / R$ 5.83 after China announced retaliatory 34% surcharges against US President Donald Trump's tariffs, which fueled fears of a global recession, triggering turbulence in financial markets.

  • Thursday, March 6th 2025 - 21:14 UTC

    Trump postpones tariffs on Mexican items at least until April 2

    Trump's good rapport with Sheinbaum was the reason for this reversal, the Republican leader explained

    US President Donald Trump announced a temporary exemption from new 25% tariffs for goods from Mexico covered under the 2020 United States-Mexico-Canada Agreement (USMCA). The Republican leader adopted the measure following a telephone conversation with Mexican President Claudia Sheinbaum. The exemption, effective until at least April 2, reverses tariffs imposed earlier this week, aimed at addressing fentanyl trafficking and trade imbalances.

  • Wednesday, March 5th 2025 - 10:38 UTC

    Trump's tariffs become effective, but new compromise expected

    Trump is expected to announce a compromise with Canada and Mexico as early as Wednesday, Commerce Secretary Howard Lutnick admitted

    The United States implemented tariffs on imports from Mexico, Canada, and China, triggering responses from these nations and causing a market meltdown. The tariffs include a 25% levy on imports from Mexico and Canada and an increase from 10% to 20% on goods from China. The move seeking to address fentanyl trafficking and border security has failed to meet expectations.

  • Tuesday, May 31st 2022 - 10:52 UTC

    Elimination of a “Brazil cost” item represents a further 1,5 percentage point reduction in tariffs

    The Ministry of Economy hopes that importers will then pay 10% when entering the country, below the Mercosur External Common Tariff is currently at 11.6%

    The Brazilian government is drafting a presidential decree to change tax revenue mechanisms, which the economic team argues it will lead to a 1.5 percentage point reduction in the rates levied on all imported products. This is part of president Bolsonaro's administration policy of (gradually) opening the Brazilian economy to foreign competition.

  • Saturday, October 9th 2021 - 09:55 UTC

    Agreement reached between Argentina, Brazil to cut down common external tariffs by 10%

    Cafiero's trip to Brasilia meant significant progress in multinational ties

    The Governments of Argentina and Brazil Friday agreed to cut down the common external tariffs (CET) by 10% “in a very wide universe of products” after months of tensions among members of Mercosur on the issue.

  • Monday, June 7th 2021 - 09:05 UTC

    Cardoso and Lula da Silva support Argentina in the Mercosur tariff reduction controversy

    “This is no moment for Mercosur to consider unilateral tariff reductions without any reciprocal benefit for the block's exports”, stated the two ex presidents

    Former Brazilian presidents Fernando Henrique Cardoso and Lula da Silva signed a statement in which they support Argentina's position in the Mercosur controversy regarding a flat unilateral tariff reduction as sponsored by president Jair Bolsonaro, with the backing of Uruguay, but rejected by President Alberto Fernandez.

  • Friday, June 4th 2021 - 09:55 UTC

    Lacalle Pou wants Uruguay to compete in an unprotected foreign trade scenario

    Mercosur is not about slamming the door and walking away, Lacalle said

    Uruguayan President Luis Lacalle Pou said Thursday during the virtual Export Day celebrations that “we like to play on a large court, and not on a small, protected one.”

  • Monday, May 3rd 2021 - 09:56 UTC

    Argentine Ambassador to Mercosur wants new tariffs to boost local production

    “Advancing with the Brazilian proposal would be wasting an opportunity,” said Kestelboim

    Argentina's Ambassador to Mercosur Mariano Kestelboim Sunday said he favoured “a new common external tariff that promotes productive development.”

  • Monday, January 11th 2021 - 09:40 UTC

    Covid-19: Brazil reduces to zero import tariffs for syringes and needles

    According to the Ministry of Economy, the tax rate for importing needles and syringes was previously 16%

    Brazil has reduced import taxes and tariffs to zero for products used to combat Covid-19, including syringes and needles classified under codes 9018.31.11, 9018.31.19, 9018.31.90, 9018.32.19, and 9018.39.10 of the Mercosur Common Nomenclature. The products are included in the list of temporary tariff reductions covered by Gecex (Executive Management Committee of the Chamber of Foreign Trade), Resolution 17, from 17 March 2020.