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Buenos Aires— Ford asked to take back the automotive agreement between Mexico and Argentina, which was cancelled last week by the latter, the Argentinean newspaper La Nacion revealed.
La Nacion explained that Ford presented their new Ranger pick-up truck, Ford’s first vehicle produced in South America and sold worldwide and that “Ford considers essential to keep the free trade agreement with Mexico to avoid losing competitiveness in the global market”.
The newspaper reminded that last week Cristina Fernandez, President of Argentina, decided to suspend the Agreement of Economic Complementation Nº 55 (ACE 55). As of such suspension, vehicles assembled in Mexico must pay 35% customs duty to enter into the Argentinean market, while those assembled in Argentina pay 30% to go into the Mexican market.