Economic Community

According to the latest Trade Tariff Restrictiveness Index, on which it scores 9.4% and is ranked 92nd out of 125, Brazil’s tariff regime is more protectionist than an average Latin America and the Caribbean or upper middle income countries. The nation has preferential access to Argentina, Paraguay, and Uruguay as a member of the Southern Common Market (MERCOSUR). Under MERCOSUR, the nation is also currently negotiating free trade agreements with Mexico, the Andean Community, India, South Africa, and the Caribbean Community (CARICOM). Brazil is an active participant in multilateral negotiations and has often challenged developed countries’ trade restrictions in the WTO.