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Argentina wants Mercosur to scale back tariffs

Call for opening up market to the world
BUENOS AIRES. July 12: South America's Mercosur customs union should open Itself up to the world and scale back its common external tariff in order to make the combined economics of Brazil, Argentina. Uruguay and Paraguay more competitive, a high-level Ar-gentine official said, reports
Outers.
The common external tariff for imports of goods into the world's third-largest trade bloc currently stands at an average 14 per cent and should scale down to I I per cent by year's end under an agreement between the top two partners: Brazil and Argentina.
But any reduction in import tariffs Is bound to encounter resistance from the sectors they shelter with Industry likely to argue any lowering of import costs would be harmful to Its competitiveness.
"Our view is we shouldn’t transform Mercosur Into a closed fortress but rather a common market that Is open to the world Consumer Defence Secretary Carlos Wlnograd told Reuters.
"We should basically seek a uniform tariff that scales down in order not to create handicaps lo regional competitiveness," he added.
Analysts say Mercosur’s current tariff regime, which in the case of autos Is above 30 per cent. Is harmful to regional competitiveness in that it prevents industry from equipping Itself with the latest technology at low costs.
This is a key issue for Argentina which pegs Its peso at par the US dollar which means its products are mm h more expensive In “the marketplaces of its neighbouring nations.
Argentina asked Brazil
Monday to freeze plans to hike tariffs on capital goods for the telecommunications and high tech sectors, currently varying between 8 and 10 per cent.
The common external tariff is also a powerful weapon for the Mercosur member nations to punish the European Union and United States for protectionist barriers to the region's exports.
But a reduction in the tariff would facilitate the lull rnliA of Chib' into the customs union, giving Mercosur a stronger hand to play In free trade talks with the EU and North American Free Trade Agreement.
Chile Is an associate member of Mercosur and maintains a 9 per cent external tariff.
A reduction in Mercosur’s tarili should be accompanied by an elimination of subsidies, the source ol many internal trade rows. Wlnograd said.