Brief: Uruguay Breaks With Mercosur
The South American bloc's future has been in doubt for years.
Background: South America’s two largest economies, Brazil and Argentina, led efforts in 1991 to establish the Southern Common Market, known as Mercosur, with Paraguay and Uruguay. A key objective was to improve members’ bargaining power in international trade negotiations. But by requiring unanimous consent, Mercosur ultimately stifled members’ ability to strike trade deals. As a […]