Latin America Commits to Open Trade After Protectionist Year

Latin American leaderswho have put in place some of the world’s highest trade barriersagreed to fight protectionism in a summit with their European Union counterparts this weekend. The Community of Latin American and Caribbean States (CELAC), and the EU signed a joint declaration on 26 January that embraces international trade and respect for legal frameworks. The statement, which isn’t legally binding, comes after a year in which South America’s two largest economies put up new trade barriers in a bid to protect local industries from outside competition.

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