us mexico reach deal in sugar dispute
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

US, Mexico reach deal in sugar dispute

Arab Today, arab today

Arab Today, arab today US, Mexico reach deal in sugar dispute

Workers spray fertilizer in a sugar cane field
Washington - Arab Today

The US and Mexico reached an agreement Tuesday to resolve a long-standing dispute and allow duty-free sugar imports to resume from south of the border, albeit with new conditions.
US Commerce Secretary Wilbur Ross said the new deal will “address the flaws in the current system” and protect American sugar refiners, confectioners and soft drink makers from harm caused by imports of subsidized Mexican sugar.
“The new agreement prevents dumping of Mexican sugar and corrects for subsidies the Mexican sugar industry received,” Ross said at a joint press conference with Mexico Economy Minister Ildefonso Guajardo Villarreal.
However, he said the US sugar industry does not support the new deal.
US sugar producers have protested the amount of cheap sugar pouring across the border, accusing Mexico of subsidizing its sugar industry, then dumping the excess product.
Washington had threatened to slap tariffs of up to 80 percent on Mexican sugar unless a deal was reached. Guajardo said the new deal, which increases the set price for raw and refined sugar and increases the share of raw sugar exports, “protects Mexican companies and workers” and “maintains Mexico’s position as the main supplier” to the US market.
The dispute comes as the two neighbors, along with Canada, are set to renegotiate the North American Free Trade Agreement (NAFTA), and the officials indicated the negotiations on sugar over the past several weeks should help with those talks.
“We needed to get out of the way this very contentious issue that has been polluting the relationship between the two countries for quite some time,” Ross told reporters.
“I think it is important to get a very hard issue like that out of the way before the big negotiations start.”
And both Ross and Guajardo said work on the sugar deal has strengthened their working relationship and showed they could reach a mutually beneficial agreement.
The deal will increase the import price to 23 cents a pound of raw sugar from 22.25 cents and for refined sugar to 28 cents a pound from 26 cents.
In addition, the share of refined sugar imported will be reduced to 30 percent from 53 percent, increasing the amount of raw sugar imports to 70 percent.
In addition, Mexico was granted “right of first refusal” to supply any excess US demand, as determined each year by the US Department of Agriculture (USDA).
The USDA monitors the market and US production and allocates an additional quota of imports as needed. It did so this year — calling for an additional 40,000 tons — and in 2016, but prior to that there were three years when no additional imports were allowed.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us mexico reach deal in sugar dispute us mexico reach deal in sugar dispute

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us mexico reach deal in sugar dispute us mexico reach deal in sugar dispute

 



GMT 08:23 2017 Monday ,03 April

Tesla tops quarterly sales forecast

GMT 20:11 2017 Saturday ,25 March

Former head of Egypt’s syndicate submits appeal

GMT 05:28 2017 Sunday ,26 November

Gas exporters call for 'fair price'

GMT 10:51 2018 Tuesday ,11 December

Cloudy weather with rain showers forecast Tuesday

GMT 20:00 2017 Monday ,25 September

Tourism minister leaves for France to attend Top Resa

GMT 22:07 2017 Tuesday ,02 May

UAE soldier martyred in Yemen

GMT 00:25 2017 Sunday ,10 September

Philippines Sees the Bloodiest

GMT 20:21 2017 Wednesday ,08 November

Ambassador Aizaz Chaudhry met members of Congress in US

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 18:16 2017 Monday ,25 December

Sharjah Ruler issues Emiri Decree on SGMB functions

GMT 13:16 2017 Sunday ,15 October

Qatari sheikh says assets frozen over Gulf crisis

GMT 12:50 2017 Saturday ,11 November

ICC prosecutor calls for Afghanistan war crimes probe

GMT 13:28 2012 Friday ,17 February

NYT\'s Anthony Shadid dies in Syria

GMT 16:44 2017 Friday ,01 September

Al-Bashir to partake in OIC Summit in Kazakhstan
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday