RIO DE JANEIRO, BRAZIL - Uruguay's government conveyed its position on tariffs to the administration of Brazilian President Jair Bolsonaro, with which it shares a common understanding that the regional bloc needs to be "modernized."
In October, Argentina and Brazil's Foreign Ministers announced a bilateral agreement to propose a 10% reduction in the CET to the other partners; Paraguay later expressed its support for the idea. By rejecting this step, Uruguay is now in a solitary position.
A meeting of the MERCOSUR Common Market Group is scheduled for Tuesday and Wednesday, November 23 and 24, where the CET proposal . . .