Tag: car quotas

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

  Renewal of car quotas with Mexico reveals shortcomings of Brazilian industry

  

  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.