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The Pacific Alliance and Mercosur, Latin America's Largest Integration Initiatives, Agree on Tuesday to Strengthen Economic and Trade Linkages Between Tariff Measures US President Donald Trump who could start a war business.
From the threat of overturning existing trade agreements to increasing import duties on steel and aluminum, US measures have shaken traditional allies and rivals.
Last week, Trump said he was ready to tax imported goods. China is worth $ 500 billion.
"The goal was to strengthen the links between the two most important trading blocs of Latin America," said Mexican President Enrique Peña Nieto at the 13th Pacific Alliance Summit in Puerto Vallarta In 2005
On Wednesday, Brics bloc leaders – Brazil, Russia, India, China and South Africa – are expected to join the defense of multilateralism at a meeting in Johannesburg.
Trump threatened not to renegotiate the Northern Treaty (NAFTA) – also integrated by Canada and Mexico – but Mexico's envoy for the talks said he hoped that talks to modernize the trade pact would be completed in the coming months.
Peña Nieto said that members of the Pacific Alliance – Chile, Colombia, Mexico and Peru – were in agreement with Mercosur – composed of Argentina, Brazil, Paraguay and Uruguay – to explore new avenues for economic and trade cooperation.
But Chilean President Sebastián Piñera said at a press conference that he hoped that Mexico would remain committed to openness and trade integration as soon as possible. Andrés Manuel López Obrador would become president.
They added that with Mercosur, they went from a roadmap to a plan of action with clear goals, timelines and goals to converge and "quickly reach a vast free trade area in Latin America ".
Presidents and representatives of the eight countries agreed to facilitate trade in goods, increase the internationalization of small and medium enterprises, promote the knowledge economy and
L & # 39. Pacific Alliance and Mercosur are the most populous regional blocks with the highest economic weight in Latin America.
By the end of 2018, Pacific Alliance can add as members Canada, Australia, New Zealand and Singapore. The bloc also received applications for participation from Ecuador and South Korea
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