European Union on Monday slammed the Trump administration for considering tariffs on auto imports, saying they could lead to global retaliation against some US$ 300 billion in U.S. goods amid signs of a brewing trade war.
Brazil's industrial output fell 6.9% in June compared to the same month last year, mostly due to a contraction of the automobile industry, reported the official stats office last Friday.
Argentina's economic activity jumped 7.8% in May from a year earlier, according to the country’s questioned stats office, Indec. President Cristina Fernandez had anticipated the news earlier in the week in a televised speech.
Mexico has withdrawn a zero-tariff agreement with Argentina on autos in a tit-for-tat trade dispute after the Argentine government's decision to pull out of an auto trade pact between the two countries.