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Mercosur: Economy Minister says Brazil should not be prisoner of arrangement that decreases trade

RIO DE JANEIRO, BRAZIL - Economy Minister Paulo Guedes on Thursday defended the reduction of Mercosur's Common External Tariff (TEC). "In the world, the average tariff is 4%, and Brazil has a tariff of 12% or 13%," he said in the Senate Foreign Relations Committee meeting.

Since the beginning of the Bolsonaro government, there has been the view that it is necessary to conclude an agreement with Argentina and modernize Mercosur, otherwise "this instrument does not make sense for us," the minister said.

He referred to the upswing in trade agreement negotiations that had taken place in Argentina under the . . .

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