American Sugar Cane League (ASCL) Manager Jim Simon said U.S. and Mexican government officials yesterday initialed an accord to suspend the ongoing antidumping and countervailing duty investigations of sugar from Mexico.
Simon was optimistic about the settlement.
"I’m hopeful that a final agreement will be reached and the domestic sugar market is stabilized fairly,” Simon said. "The Louisiana industry has become very efficient through research and mechanization and settling the trade dispute will help keep the playing field level.”
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.”
The American Sugar Alliance represents U.S. sugarcane and sugar beet producers.
Details of the agreement are available from the U.S. Department of Commerce. 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 yesterday, with duty deposits of up to 47.26 percent. If a settlement is finalized, those duties will be suspended.