
One year after the Trump administration launched its tariff offensive against more than 180 countries, Latin America presents a mixed picture: some economies lost competitiveness in the U.S. market, while others redirected exports or negotiated agreements to cushion the blow.
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The presidents of Brazil, Luiz Inácio Lula da Silva, and Paraguay, Santiago Peña, agreed on Sunday in Campo Grande to intensify negotiations over Annex C of the Itaipú treaty, the instrument that governs the financial terms and energy sales of the binational hydroelectric dam, one of the largest in the world.

Relations between Paraguay and Germany are at a positive juncture, with prospects for growth in trade, investment and tourism, according to German Deputy Ambassador in Asunción Jörg Herrera, in an interview with state broadcaster Paraguay TV.

Brazil’s Congress on Tuesday promulgated the trade agreement between Mercosur and the European Union, completing the final domestic step required for the treaty to take effect on the Brazilian side. The ceremony was led by Senate and Congress President Davi Alcolumbre, who framed the pact as a sign in favor of trade, stability and integration at a time of wars and commercial tensions.

Colombian President Gustavo Petro said his country and Venezuela will seek admission to Mercosur as full members, one day after a ministerial meeting in Caracas that he described as “extremely successful,” according to EFE. In a message posted on X, Petro said: “We will ask for the moratorium to be lifted so Venezuela can enter Mercosur as a full member, and Colombia will submit its own request to join as a full member.”

Brazil’s Congress on Wednesday ratified the trade agreement between Mercosur and the European Union, completing the legislative step in the South American bloc’s largest economy. The Senate approved the treaty unanimously, after the lower house cleared the text last week, according to local reporting and wire-service coverage.

The Free Trade Agreement (FTA) between Mercosur and Singapore entered into force on a bilateral basis between Uruguay and the city-state on 1 March 2026, after both sides completed domestic procedures and deposited their instruments of ratification, according to a joint statement.

European Commission President Ursula von der Leyen on Friday announced the provisional application of the trade part of the EU-Mercosur association agreement, following parliamentary ratification in Argentina and Uruguay. The move activates trade commitments ahead of full conclusion of the treaty, which still requires the European Parliament’s consent.

Uruguay and Argentina ratified on Thursday the trade agreement between Mercosur and the European Union, becoming the first founding members of the South American bloc to complete parliamentary approval. Whether the treaty begins to apply now hinges on decisions inside the EU, as a separate legal review process continues following moves in the European Parliament.º

A special committee of Uruguay’s parliament tasked with reviewing the EU–Mercosur agreement approved the ratification bill on Monday, clearing the way for floor votes in the Senate and lower house in the coming days — a timetable that could make Uruguay the first Mercosur member to complete domestic approval.