Brazil, Mexico agree on reduced tariffs SAO PAULO — Brazil and Mexico come to a preliminary agreement to allow imports of vehicles into each country with a lower tariff. Under the agreement, each country can import up to 40,000 vehicles with an 8% tariff. Brazil was charging a 35% tariff on Mexican-made vehicles, while Mexico was levying a 20% tariff on Brazilian-made vehicles. Imported vehicles exceeding 40,000, will be subject to rates for favored nations. The two countries plan to ...

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