MONTEVIDEO, July 25– Uruguayan President Yamandu Orsi said Friday that the U.S. tariff increase reflects a trend toward more protectionist global trade, noting that its impact on Uruguay would be limited.
Speaking at a press conference in the southern department of Canelones, Orsi said Washington’s decision to raise tariffs from 10 percent to 12.5 percent on certain Uruguayan products would affect one-fifth of the country’s exports to the United States.
He said the measure did not include trade in services and excluded Uruguay’s main exports to the U.S. market.
Still, Orsi said the 2.5-percentage-point increase was a concern.
“Protectionism is gaining ground, it is a daily fight around the world and we have to be very smart and careful,” he said.
Uruguay’s Ministry of Economy and Finance said the government will take measures to mitigate the impact on affected sectors and noted that it had submitted a bill to Congress banning imports of goods made with forced or child labor. (Namibia Daily News / Xinhua)
