How will US tariffs affect Uruguay?

Key Takeaway: Currently, Uruguay is subject to the 10% baseline tariff imposed by the United States. The higher "reciprocal tariffs" are paused for Uruguay for 90 days. The long-term tariff relationship will likely depend on ongoing diplomatic efforts and any potential new trade agreements or adjustments to the U.S.'s global trade policy.

How much tariffs did Uruguay pay in 2022?

In 2022, Uruguay paid a total of US$ 538 million in tariffs on its exports of goods. This expenditure reflects the importance of understanding the costs associated with international trade. The markets that impose the highest tariffs are the main destinations for Uruguayan exports, with the exception of Brazil. III. Benefits of trade agreements

What is a tariff system in Uruguay?

The Tariff System is a set of regulations that determines the taxes applicable to goods entering or leaving a country. In Uruguay, this system is administered by the customs authorities and its main purpose is to regulate the flow of goods, protect national industry and generate revenue for the State. II. Tariffs on Uruguayan exports

Are'reciprocal tariffs' applied to imports from Uruguay?

"Reciprocal Tariffs": Uruguay was included in the 90-day pause on the higher "reciprocal tariffs" that went into effect on April 9, 2025, for most countries with trade imbalances. Therefore, the higher, specific tariff rates calculated based on the trade deficit are not currently applied to imports from Uruguay.

What percentage of Uruguayan exports are made under a trade agreement?

In fact, 32% of Uruguayan exports are made under some trade agreement. When added to products entering through tariff quotas, this percentage rises to 36%. In addition, 58% of the goods exported by Uruguay enter with zero tariffs at destination thanks to the Most Favored Nation (MFN) principle.

What role do trade agreements play in reducing tariffs for Uruguay?

Trade agreements play a crucial role in reducing tariffs for Uruguay. In fact, 32% of Uruguayan exports are made under some trade agreement. When added to products entering through tariff quotas, this percentage rises to 36%.