Argentina is considering applying measures to restrict the import of Mexican cars, which could include unilaterally denouncing the Economic Complementation Agreement (ACE) 55, which regulates bilateral trade, Argentine government sources told local media, ámbito.com.
Brazil's government wants Mexico to impose quotas on its own auto exports to the South American nation to ensure the total value does not exceed 1.4 billion dollars over the next three years, the development, industry and foreign trade ministry said.
Cuba authorized auto sales among individuals Wednesday, easing a 50-year-old ban that has helped make the Castro brothers-ruled island a living museum of vintage cars.
Uruguayan president Jose Mujica admitted a certain ‘stinging feeling’ following the recent Brazilian decision to increase import taxes on vehicles by 30%, which could also have an impact on Mercosur partners.
Argentina's industrial activity in June rose 9.3% on the year led by automobile production, according to manufacturers association UIA (Argentine Industrial Union).
Brazil’s car production capacity is expected to jump from the current 3.6 million units per year to 6.2 million by 2025 supported by massive investments from the industry estimated in 19 billion dollars by 2017, according to estimated from the Vanzolini Foundation in Sao Paulo.
Argentina’s trade relation with Brazil does not have restrictions and “it’s understandable that some differences surface” when bilateral trade will be reaching over 40 billion dollars this year, said Argentine Industry Ministry sources in Buenos Aires.
Fiat will trim some production in Brazil and Argentina for a week because of a trade spat between the South American neighbours, the Italian car maker said on Friday.
Argentina and Brazil seem to be again on the path of normalizing bilateral trade following the mid May spat that triggered a round of technical exchanges in Buenos Aires and a final meeting at ministerial level in Brasilia. On Monday, allegedly all the Argentine cars delayed in the border will have been cleared into Brazil.
Argentina and Brazil agreed Thursday to abide by the 60-day retention period applied to products affected by non automatic tariff trade barriers and accelerate trade in the agricultural sector with the purpose of overcoming the conflict that erupted mid May and had virtually frozen bilateral operations.