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Wednesday, December 9, 2015

Mexico Pledging Tariffs on U.S. Goods

Mexico has made a pledge to enact $228 million in tariffs on U.S. products following the World Trade Organization opening the door for trade retaliations against U.S. Country-of-Origin meat labeling. Mexico will enact the tariffs on U.S. apples, dairy products, liquor and hygiene products, as reported by the Associated Press. Canada and Mexico have a set a meeting for December 18th, according to the American Farm Bureau, to ask for the go ahead to enact tariffs on U.S. goods. The meeting comes after the WTO announced Monday it would allow Mexico and Canada to enact retaliatory tariffs on U.S. goods at just over $1 billion dollars. The WTO estimated that the amount of tariffs allowed represents the amount of losses for Canada and Mexico through exports because of the U.S. COOL law.  Canada could impose $780 million in tariffs, based on the WTO ruling.