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Argentina Suspends Auto Trade Pact with Mexico
The Argentine government has announced a three-year suspension of its automobile trade accord with Mexico.
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The Argentine government has announced a three-year suspension of its automobile trade accord with Mexico.
That agreement is part of the 2002 trade pact between Mexico and the Mercosur trade bloc, which includes Argentina, Brazil, Paraguay and Uruguay.
Argentina's complaint stems from Mexico's side agreement with Brazil in March to restrict its exports of autos and parts to Brazil for the next three years. Mexico rebuffed Argentina's request for a similar deal.
Buenos Aires contends the uneven treatment violates the trade pact and threatens the country's auto industry. Argentina notes that its automotive trade deficit with Mexico tripled from 2010 to $1 billion last year. Brazil has a $690 million gap with Mexico.
Mexico says it is preparing a legal challenge of Argentina's action to the World Trade Organization.
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