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LatinNews Daily - 28 September 2021

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In brief: Brazil’s Guedes insists on changes to Mercosur

* Brazil’s economy minister, Paulo Guedes, has said that Brazil is intent on modernising the Southern Common Market (Mercosur) regional trade bloc, which groups Argentina, Uruguay, and Paraguay as well as Brazil. Mercosur has been recently paralysed by internal differences, with differing political views notably pitting Brazil and Uruguay against Argentina. “Our position is to move forward. We will not leave Mercosur. But we will not accept Mercosur as an ideological tool”, Guedes said during an online event promoting Brazil and organised by the International Chamber of Commerce. Brazil is in favour of bringing down the common external tariff (CET), which is as high as 35% on some products, to 10% across the board, a proposal which is opposed by Argentina, which would prefer a more selective application of a more moderate CET reduction.