Argentina, Brazil begin defining which products to be impacted by higher import tariffs

Argentina and Brazil began Wednesday to define products that will raise import tariffs, in an attempt to protect its industry from the global financial crisis. The customs union Mercosur, comprising Argentina, Brazil, Paraguay and Uruguay on Tuesday authorized each of its members to raise tariff rates of 100 positions to avoid a flood of goods not found in the northern hemisphere markets by economic turbulence. Read Article