RIO DE JANEIRO, BRAZIL - The Brazilian government has again unilaterally approved a 10% cut for 6,195 products included in Mercosur's Common External Tariff (GATT), the Brazilian Economy Ministry said in a communiqué released Monday.
With this, 87% of the products in the Mercosur Common Nomenclature (NCM) will see a 20% tariff reduction, including "beans, meat, pasta, cookies, rice and construction materials," the government said.
The previous cut had been announced jointly by Argentina and Brazil, and Brazil then decided to apply it unilaterally without reaching a consensus in the group. This decision killed Uruguay's chances of linking . . .