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Mexico agrees free trade with Brazil on light vehicles

MEXICO CITY, March 19 (Reuters) - Mexico’s government said on Tuesday it had agreed free auto trade with Brazil on light vehicles, subject to a 40 percent regional content requirement, and that it had renewed auto trade quotas with Argentina for three years, after which there would be free trade.

The Brazil agreement comes into effect from March 19, and the content requirement would be subject to current formulas for calculation, the economy ministry said in a statement. The statement did not provide details on the formula. (Reporting by Dave Graham Editing by Frank Jack Daniel)

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