Mercosur
Mercosur was created by the Treaty of Asunción, signed on March 26, 1991, by Argentina, Brazil, Paraguay and Uruguay to form a Southern Common Market, and it became a customs union with a common external tariff on January 1, 1995.
What happened and why it matters
Mercosur is South America's largest trade bloc, and its customs union is why goods imported into Brazil or Argentina face a largely shared external tariff while still passing through demanding national customs procedures. The treaty phased out most internal tariffs by the end of 1994, though many product exceptions remained and harmonization was never fully completed. For sellers shipping to South America, Mercosur membership affects duty rates and rules of origin, but cross-border e-commerce into the region still faces high import taxes, strict documentation and slow clearance, so many brands use local partners or marketplaces with in-country inventory.
Related events
Sources
- MERCOSUR factual presentation (World Trade Organization) rtais.wto.org
- MERCOSUR (UNCTAD Trade Point Programme) sunsite.icm.edu.pl