Mexico Trucking Dispute Agreement Reached

President Barack Obama and Mexican President Felipe Calderon have reached an agreement to resolve the dispute over cross-border trucking. The dispute erupted in March 2009 when Mexico placed higher tariffs on an estimated US$2.4 billion of US goods after the US Congress cut off funding to renew a pilot program that let a limited number of Mexican trucking companies to haul freight beyond a 25-mile US commercial zone.

Mexico had instituted tariffs in retaliation for the United States not complying with the trucking provision of the 1994 North American Free Trade Agreement (NAFTA). The provision was supposed to become effective in December 1995. Half of the US$2.4 billion in Mexican retaliatory tariffs are to be lifted as soon as the agreement is finalized. The remainder of the tariffs will be lifted when the necessary safety tests are completed and the first Mexican truck rolls across the U.S. border, according to a statement from the American Farm Bureau Federation. Read more ...

This blog is written by Martin Little The Global Miller, published and supported by the GFMT Magazine from Perendale Publishers.