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Glossary term:

MERCOSUR

South American trade bloc established by the Treaty of Asunción in 1991 and The Protocol of Ouro Preto in 1994.

Its full members are

  • Argentina
  • Brazil
  • Paraguay
  • Uruguay

Venezuela is a full member as well but has been suspended since December 1, 2016.

Associate countries are

  • Bolivia
  • Chile
  • Colombia
  • Ecuador
  • Guyana
  • Peru
  • Suriname

Observer countries are New Zealand and Mexico. The bloc has reduced tariffs on trade between those countries by up to 90%.

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  1. When the tariff refers to weight, is it gross weight or net weight?
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