Mexico has some margin to compromise if the North American Free Trade Agreement (NAFTA) talks fail with the U.S. and Canada, according to Mexico's economy minister Ildefonso Guajardo, but he did not say what those areas of compromise were.Further, he continued to warn that Mexico would not just keep buying from the U.S. if the talks fail. "It is very simple: If today I am the top buyer of yellow corn, of fructose, rice, chicken, pork from the U.S., I need to open a space for trade with Brazil and Argentina so that at the table people realize that we have options," Guajardo said over the weekend at an event in the Mexican city of San Luis Potosi.Guajardo criticized the Trump administration’s focus on a loss of U.S. manufacturing jobs since NAFTA took effect in 1994. U.S. automotive production has soared thanks to productivity gains, and the nation has created millions more jobs in service industries than it lost in car production over the period, he remarked. "It appears that some governments aren’t noticing the transformations" in the global economy, he added.The U.S., Canada and Mexico wrapped up the fourth round of NAFTA talks in Washington last week and said negotiations will run through the end of March 2018, rather than the original goal of wrapping up talks this year. They also extended the time between negotiating rounds, giving themselves more space to consider proposals.Canada and Mexico have rejected what they say are unpalatable U.S. proposals on dairy, automotive content, dispute panels, government procurement and a sunset clause. Negotiators plan to meet next in Mexico November 17-21.US Commerce Sets Preliminary Antidumping Duties on Argentine, Indonesian Biodiesel
Affirmative preliminary determinations in antidumping duty (AD) investigations on imports of biodiesel from Argentina and Indonesia were announced late Monday by the U.S. Department of Commerce. The finding concludes that Argentine biodiesel was being sold into the U.S. market at dumping margins of 54.36% to 70.05% and Indonesian biodiesel was being sold at dumping margins of 50.71%.The decision gives the U.S. Customs and Border Protection (CBP) the means to collect cash deposits from importers of biodiesel from Argentina and Indonesia based on these preliminary rates. A statement from Commerce Secretary Wilbur Ross noted the U.S. and Argentina are in discussions on possible suspension agreements that could suspend the duties announced Monday and those announced in August. Argentina and Indonesia said they will contest the latest U.S. action.
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