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LatinNews Daily - 10 September 2019

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In brief: Argentina and Brazil delay free trade in auto sector

* Argentina’s Production & Labour Minister Dante Sica and Brazil’s Economy Minister Paulo Guedes have signed a new automotive agreement, which commits Argentina and Brazil to gradual trade integration, culminating in free trade in the automobile industry by July 2029. The deal replaces a previous deal, which stipulated that trade in automobiles and automobile parts would be free from July 2020. According to Sica, the previous deal, which required renegotiation every two years, negatively impacted on “investments in an industry that needs predictability”. The automotive sector represents 40% of all Argentina’s manufacturing exports and directly or indirectly generates more than 160,000 jobs.