Mexico to resume talks on troubled auto trade deal
MEXICO uk canada goose outlet CITY, March 12 (Reuters) Latin America top two economies will renew talks to save an auto trade deal this week after negotiations hit a stalemate over Brazil demand for Mexico to cut back its exports by more than a third.
Brazil demanded Mexico renegotiate their auto trade deal, signed in 2002, after Mexican exports jumped canada goose uk canada goose coats outlet almost 70 percent canada goose black friday sale in 2011, contributing to a glut of imports that pushed Brazilian auto plants to temporarily shutter production.
Brazil Trade Minister Fernando Pimentel will travel to Mexico this week to hold talks with Mexico Economy Minister, Bruno canada goose uk black friday Ferrari, according to a canada goose coats on sale Brazilian buy canada goose jacket cheap trade ministry spokesman. The countries foreign ministers will also join talks.
Talks hit a snag last canadagooseoutlet4online week after Brazil tried canada goose store to impose a Friday deadline in a Thursday letter for Mexico to accept slashing its auto exports to Brazil by 40 percent to about canada goose clearance sale $1.4 billion a year.
Mexico rejected Brazil attempt to uk canada goose impose such cheap canada goose uk a short deadline on delicate trade talks, and offered instead to limit its exports at current levels for several years. Mexico shiped 147,000 vehicles worth $2.4 billion last year to Brazil.
appears they have lost the intention to reach an agreement, a Mexican official said Canada Goose Coats On Sale Monday on condition of anonymity when asked Canada Goose Jackets about Brazil deadline. is a good sign that they Canada Goose online are coming to negotiate, canada goose he Canada Goose Online added.
Brazil is trying to shield its struggling auto industry from a strong currency that Canada Goose Outlet is making local made canada goose uk shop models less canada goose clearance competitive against imports cheap Canada Goose and dragging down growth in Latin America biggest economy.
Analysts say the tough Canada Goose Parka line taken by Brazil shows how the South American giant has become Canada Goose sale more and more assertive thanks to a sustained period of growth in recent years that has pulled the country into the front rank of global economies.
A Brazilian official said on Monday the country was still willing to invoke an canada goose coats exit canadian goose jacket clause built into the trade deal. canada goose factory sale the idea is to negotiate, he said.
Brazil wants to liberalize trade on heavy vehicles, a move that could favor Brazilian exports to Mexico. Brazil also wants Mexico to raise the amount of Latin American made auto parts used in its cars to 45 percent from a current 35 percent.
The spat is also threatening to derail talks toward a wider free trade deal between Brazil and Mexico that were launched in late 2010.
Mexico has been a leading proponent of free trade and its exports buy canada goose jacket make up nearly a third of its economy. Brazil has been far more skeptical of tearing down trade barriers and exports make up little more than one tenth of its economy. (Reporting By Ana Isabel Martinez in Mexico and Esteban Israel and Jeferson Ribeiro in Sao Paulo; writing by Michael O Editing by Richard Pullin).