Tuesday, March 17, 2009

Fighting a trade war

Congress has sparked a trade war with Mexico over allowing Mexican trucks onto US highways.

MEXICO CITY - Mexico said Monday it will increase tariffs on about 90 U.S. products in retaliation for last week's decision to end a pilot program that allowed some Mexican trucks to transport goods in the United States.

Economy Secretary Gerardo Ruiz Mateos said the U.S. decision violates a provision of the North American Free Trade Agreement that was supposed to have opened cross-border trucking by January 2000.

It is interesting to see how Mexico is targeting their retaliation.

The measure will affect about $2.4 billion in trade involving approximately 90 agricultural and industrial products from 40 U.S. states.

Ruiz Mateos said the department later this week will publish a list of the products, which he said were chosen to represent a large number of U.S. states and significant trade items.

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