New US-Mexico Sugar Suspension Agreement Deal Possible

Mexico and the U.S. could reach a deal in the next two weeks on sugar exports to the U.S. market, Mexico Economy Minister Ildefonso Guajardo said earlier this week at a news conference in Puerto Vallarta.Guajardo met with U.S. Commerce Secretary Wilbur Ross in Washington on May 15 and discussed how to replace a current sugar suspension agreement that limits the amount of sugar Mexico may export.Guajardo said the two sides will be moving forward and will meet a June 5 deadline to come to agreement. “We are advancing in the process,” Guajardo said, according to a tape provided by the Economy Ministry. “We believe that if we continue on the same path, we should be able to come to an agreement that would help us to close the differences on the talks in the next two weeks.”Guajardo said he will be meeting with U.S. Trade Representative Robert Lighthizer today in Vietnam.Meanwhile, other trade-related meetings are ahead. Mexico Foreign Minister Luis Videgaray will travel to Washington today with Finance Minister Jose Antonio Meade and Interior Minister Miguel Angel Osorio Chong to meet with their U.S. counterparts, Videgaray said. They plan to continue discussions on trade, security and immigration, he said.