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Montevideo, July 16th 2019 - 16:25 UTC

Tag: car quotas

  • Tuesday, March 10th 2015 - 06:56 UTC

    Renewal of car quotas with Mexico reveals shortcomings of Brazilian industry

    “We need to deal with our competitiveness issues before reaching a free-trade agreement with any nation,” said Moan, head of Brazil’s auto-maker association

    Brazil and Mexico announced the renewal of vehicle quotas for four years, delaying the implementation of a free-trade agreement between the two countries. Under the new agreement, Brazil and Mexico will permit $1.56 billion of duty-free vehicle imports for the first year of the agreement. That amount will rise 3% each year until the agreement expires, in 2019, when they’ll return to a free-trade regime.