Member countries of South America’s leading trade bloc, Mercosur, have reached an agreement to broaden exemptions to common external tariffs, Argentina’s Foreign Ministry spokesperson announced on Wednesday.
Under the new deal, countries will be allowed to add up to 50 additional tariff exemptions to the existing regimes.
Currently, Brazil and Argentina benefit from around 100 exemptions each, while Uruguay and Paraguay have close to 400.
The agreement was notably driven by Buenos Aires, with Argentina pushing for the move to facilitate a potential trade deal with the United States.
Experts say that expanding these exemptions will enable Mercosur to adopt a more flexible trade policy and better protect the individual economic interests of its member states.
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Germany’s cabinet approved a draft 2026 budget on Wednesday featuring record investments and a borrowing level nearly three times higher than last year’s, aiming to strengthen infrastructure and defense while efforts to revive growth.
China and Russia will stage a joint naval exercise near Vladivostok in August, followed by a Pacific maritime patrol, Beijing’s defence ministry has announced.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 31st of July, covering the latest developments you need to know.
An F-35 fighter jet went down near Naval Air Station Lemoore in central California, the U.S. Navy confirmed on Wednesday.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
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A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
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Start your day informed with AnewZ Morning Brief: here are the top news stories for the 31st of July, covering the latest developments you need to know.
An F-35 fighter jet went down near Naval Air Station Lemoore in central California, the U.S. Navy confirmed on Wednesday.
President Donald Trump announced on 30 July, 2025, that the United States and South Korea have reached a "full and complete trade deal" that establishes a 15% tariff on South Korean exports while securing $450 billion in combined investments and energy purchases from Seoul.
The U.S. and Pakistan have reached an agreement that includes reduced tariffs for Pakistan and a partnership in which the U.S. will assist in developing the country’s oil reserves, officials from both sides announced.
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