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BloombergAug 12, 2023
Report: Argentina's Milei to Propose Trade Flexibility to Mercosur
Above: Javier Milei speaks during a joint statement with Italy's Prime Minister Giorgia Meloni at Casa Rosada presidential palace in Buenos Aires on Nov. 20, 2024. Image copyright: Juan Mabromata/Contributor/AFP via Getty Images
The Facts
Argentine Pres. Javier Milei will push for Mercosur members to be allowed to sign their own trade agreements with other nations as he attends the Mercosur summit later this week in Montevideo, local newspaper La Nación reported, citing sources close to him.
Discussions on the matter are also expected to take place because the host of the summit, Uruguay's outgoing Pres. Luis Lacalle Pou, has long expressed the same desire, including in a joint statement with former Brazilian Pres. Jair Bolsonaro in 2021.
The Spin
Narrative A
The existing Mercosur structure has hindered economic growth and limited trade opportunities for its member states, driving the once-promising bloc to irrelevance. Whether you agree or not with Javier Milei's policies, it's a matter of fact that he is absolutely right about this one.
Narrative B
Javier Milei's proposal to make Mercosur more flexible was widely expected, but that doesn't make the move any better. In fact, it's quite the opposite, as Mercosur members have more bargaining power when they negotiate as a bloc.