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Mexico snubs Brazilian demand for a limit of $1.4 billion in auto pact exports

Monday, March 12, 2012

Mexico's government rejected a proposal by its Brazilian counterparts to limit its exports of cars to Brazil to $1.4 billion a year.

Brazil has demanded that a trade deal with Mexico covering the auto industry be revised, following a surge in imports from the North American nation.

High costs and a strong currency have made Brazilian exports less competitive.

Source: Dow Jones