Historically, Uruguay’s top trading partners have been its two neighboring countries, Brazil and Argentina. As a member of Mercosur, the Southern Cone Common Market, composed of many Latin American nations, the Pacific bordering nation has enjoyed elite trading opportunities between the other Mercosur members (Australian Government).
A couple weeks ago I talked about the new trade and foreign direct investment deals occurring between Latin American countries and China. This subject dates back to the 2000s with the boom of China’s economy, but history between the two countries dates back to the colonial period when goods from both regions were highly prized and exploited.
On Tuesday, January 26, 2016, the Obama Administration announced that it would loosen trade agreements between the US and Cuba.1 While the embargo between the two countries is still in place, and not likely to be overturned by congress anytime soon, restrictions on exports and shipping have been eased. The new trade agreements will take effect on February 3, 2016 and will allow for goods from the US to go directly to Cuba.