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Brazil may increase auto trade quota for Mexico

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After breaching the limit, Mexican exporters must pay tariffs that significantly increase the cost of sales.

"We understand that they're interested in raising the quota, even though there still hasn't been any official contact," said the Mexican government official. "Our understanding is that they want to raise it to the tune of around $350 million."

The Brazilian official told Reuters that Brasilia was eyeing lifting the quota by between $300 million and $500 million.

Brazil drew an angry response from some in Mexico when it decided to change the terms of an existing auto pact to protect itself from surging vehicle imports from Mexico.

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