Brazil's Import Restrictions: BMI Smells Self-Interest

Brazil has reversed its position on auto imports from 'automatic licensing' to 'non-automatic licensing' with immediate effect, in a move which is widely been seen as retaliation against Argentina's similar move in February 2010. Although we have little doubt that Argentina will be the biggest victim of this policy, BMI believes that the move comes in view of the ongoing appreciation in the Brazilian real, which has hurt the competitiveness of the domestic manufacturers.

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