The U.S. Trade Representative’s (USTR) office says Canada and Mexico have overstated their country-of-origin labeling (COOL) losses by billions of dollars.
Canada and Mexico are seeking nearly three billions dollars in retaliatory measures. But in a report provided to the WTO, the USTR says the actual number is closer to 91 million dollars.
The three countries will present their findings and methodologies to the arbitration panel next month, after which it will be up to the WTO to determine the permitted level of retaliation for each country. However, according to a DTN Washington Insider report, it is likely that Congress will repeal the COOL law either before those hearings take place or shortly afterward.
Source: www.brownfieldagnews.com