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