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Tensions over trade deals exposed at Mercosur summit

KTVZ

By GUILLERMO GARAT
Associated Press

MONTEVIDEO, Uruguay (AP) — A summit of the four Mercosur nations has exposed tensions as Uruguay’s eagerness to seek out foreign markets collides with opposition from Brazil, Argentina and Paraguay. Uruguay has complained of economic damage from the bloc’s tariffs and other trade restrictions and criticizes the failure of Mercosur to reach trade agreements with any of world’s 10 biggest economic powers. Uruguayan President Luis Lacalle Pou said Tuesday that his country must “open up to the world” and it intends to negotiate a free trade agreement with China as well as join the Trans-Pacific Partnership. Paraguay, Brazil and Argentina have threatened legal and trade sanctions if Uruguay tries to strike deals on its own, saying that would violate the bloc’s rule for consensus for decision-making.

Article Topic Follows: AP National Business

Associated Press

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