RIO DE JANEIRO, BRAZIL - It has been almost three years since Mexico and Brazil signed the Economic Complementation Agreement 55 (ACE-55) to free tariffs on light vehicle trade, which was expected to inject greater dynamism into trade between the two countries. Still, it has not been as beneficial as expected.
Under ACE-55, exports above the regional content limit of 40% had to pay an import tax of 35%. Luiz Carlos Moraes, president of the Brazilian . . .
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