WASHINGTON—U.S. and Mexican government officials initialed an accord Monday to suspend the ongoing antidumping and countervailing duty investigations of sugar from Mexico.
Phillip Hayes, a spokesman for the American Sugar Alliance, released the following statement about the settlement.
"U.S. government officials should be commended for their hard work and diligence in reaching an agreement with the Mexican government that could serve as the basis for suspending the pending countervailing duty and antidumping duty cases. We believe that U.S. sugar producers and consumers alike will benefit if an agreement is finalized.
"Like our counterparts in Mexico, we want NAFTA to operate as intended and to foster free and fair trade in sugar between the countries."
Details of the agreement are available from the U.S. Department of Commerce (DOC). The agreement does not reopen or undermine NAFTA, and it will not require any changes to U.S. sugar policy in the recently passed Farm Bill.
The DOC also announced its preliminary antidumping determination Monday, with duty deposits of up to 47.26 percent. If a settlement is finalized, those duties will be suspended.