February 12, 2015 / 10:52 PM / 3 years ago

Brazil's trade chief seeks to renew Mexico auto quotas

Armando Monteiro, Brazil's new Minister for Development, Industry and Trade, attends a news conference after he was introduced at the Planalto Palace in Brasilia December 1, 2014. REUTERS/Ueslei Marcelino

WASHINGTON (Reuters) - Brazilian Trade Minister Armando Monteiro said on Thursday he would seek to renew the auto quota agreement with Mexico, albeit with some changes.

“Our position is that Brazil must seek to renew the agreement while seeking adjustments in that agreement,” he told Reuters in an interview.

Asked if one option might include reduced quotas, he said: “I would not rule out that possibility but I would prefer to say that something that I do not see is the chance of increasing the quotas.”

Monteiro also said he did not see a chance of resolving the U.S.-Brazil double-taxation issue in the short term.

Reporting by Krista Hughes; Editing by Sandra Maler

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