LatinNews Daily - 11 June 2021

In brief: Mercosur tariff reduction ‘inopportune’ says Argentine and Brazilian business

* The Unión Industrial Argentina (UIA) and Confederação Nacional da Indústria (CNI), Argentine and Brazilian business lobbies, respectively, have outlined their priorities for economic recovery following a meeting of the Conselho Empresarial Brasil-Argentina (Cembrar) binational business council. In a joint statement, the Cembrar outlines its priorities for the bilateral relationship between the two countries, and for the Southern Common Market (Mercosur) trade bloc to which Argentina and Brazil belong along with Paraguay and Uruguay. The Cembrar has notably called for the establishment of a private-public consultation process and debate on the question of whether to reduce Mercosur’s common external tariff (CET) – a measure supported by the governments of Uruguay and Brazil but opposed by Argentina –, noting that “we consider it inopportune to propose [the CET’s] unilateral reduction in such a complex and uncertain global situation, which also creates a difficulty in measuring its competitive impact on the region’s productive activity”. 

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