At the request of Milei, Mercosur flexes commercial rules

Announcement was made this Friday by the Ministry of Development, Industry and Foreign Trade. Measure expands list of exceptions to TEC, whereby the bloc countries can offer different tariffs to expand or restrict the trade of some products. The Ministry of Development, Industry and Foreign Trade (MDIC) reported that Mercosur countries signed on Wednesday (25) an authorization that increases in 50 tariff codes to the list of exceptions to the Block’s Common External External Tariff (Letec). The list of exceptions to TEC is a mechanism whereby nations can market products with tariffs different from those in force in the commercial block. Tariffs may be larger, or smaller, depending on the goal. With smaller rates, for example, products are cheaper. ‘War das Empanadas’: Why actor Ricardo Darín became the target of Milei “to Letec [lista de exceção à TEC] Extended represents an additional instrument available to the Brazilian government to address issues related to trading deviations, facing the uncertainties of trade barriers arising from the international context, ”MDIC’s executive secretary, Márcio Elias Rosa, also complies with an request from Argentine President Javier Milei, who seeks to strengthen the country’s commercial relationship with the United States. Larger proximity to US President Donald Trump, he implied that Brazil should thank Argentina for being taxed by 10% by the US at the beginning of the month. Codes Up to 2029 is expanded in 50 items; The Paraguayan Exception list, which can reach 649 codes by 2030, is expanded to 50 items. NCM object of the measure. To avoid concentration in economic sectors, the reductions are limited to 30% of the new codes per chapter of NCM.

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