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Mexico Agrees to Limit Motor-Vehicle Exports to Brazil for Three years

LADB Article ID: 78537
Category/Department: Mexico
Date: 2012-03-21
By: Carlos Navarro

Rather than risk the loss of a major market for its motor-vehicle exports, the Mexican government reached an agreement with Brazil to limit the number of Mexican cars and light trucks sold to the South American country during the next three years. But Mexico made it known that it was not happy that it was forced to make this move. On the day that the agreement was announced, Foreign Relations Secretary Patricia Espinosa went out of her way to criticize Brazil and Argentina for their protectionist policies. Mexico accepted ceilings on vehicle exports that would reduce the value of total sales of cars and light trucks by about 30%.

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