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Mercosur (Free Trades Zone (Have (Commercial free-trade zones, Industrial…

- - - - Common external tariff used for Mercosur merchandise
      - For special products, the domestic tariff prevailing in each individual state
      - Products coming from outside of Mercosur are highly taxed
- - - - Later amended and updated by the 1994 Treaty of Ouro Preto
- - - - Reasons
        
        On August 2016, the presidents of Brazil, Argentina and Paraguay, met to discuss suspending Venezuela from Mercosur
        
        On 21 November 2016, Paraguayan Foreign Minister Eladio Loizaga announced that Venezuela would be suspended in December 2016
        
        On 1 December 2016, Venezuela was suspended from Mercosur