Fox Business, 3/12/12
Mexico’s government rejected a proposal by its Brazilian counterparts to limit its exports of cars to Brazil to $1.4 billion a year, reported the local financial newspaper Valor Economico, in its Monday edition.
Last week, Brazil made its request in a letter sent to the Mexican government, a Brazilian government official, who asked not to be identified, told Dow Jones Newswires.
According to the report, which didn’t disclose its sources, Mexico’s rejection will be formalized later this week. Brazil’s trade ministry officials were not immediately reached for comment earlier Monday.