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Brazilian President Jair Bolsonaro is planning to formally ask Argentine President Mauricio Macri to gradually reduce the Common Market of the South's (Mercosur) common external tariff on automotive imports from 35 percent to 25 percent over the next four years, BAE Negocios reported May 23.
Negotiations between the British government and the opposition Labour Party have broken down due to disagreements over whether the United Kingdom should remain in the EU customs union and hold a second referendum, according to Prime Minister Theresa May, The Guardian reported May 17.
More than a dozen members of the British Conservative Party have sent a letter to Prime Minister Theresa May to warn her of a potential split within the party over her plan to pursue a cross-party Brexit deal with the Labour Party, Politico reported May 14.
Beijing's two largest state-owned refiners, China Petrochemical Corp (Sinopec) and China National Petroleum Corp (CNPC), have reportedly declined to purchase oil to load in the month of May, Reuters reported May 10.