Trade
If the nation’s debt hits $31.4 trillion—it’s on track to do so by this Thurs.—the Treasury will need to take “extraordinary measures” to help pay the government’s operations and ward off a historic default.
Mexico and Canada had challenged the U.S. method for calculating the regional content required under the USMCA trade pact for cars to have tariff-free access to the U.S.
Export tariffs on aluminum and aluminum alloys will be raised. The current import tariff will stay on seven types of coal until March 31, with tariffs adopted for most favored nations from April 1.
Minister Victor Villalobos said U.S. officials were satisfied with a proposal to delay a ban on the import of GMO corn until 2025, according to a published report.
Government officials asked U.S. Trade Rep. Katherine Tai to capitalize on the success of the USMCA and expand relations in the Western Hemisphere.
The Fertilizer Institute applauded the passage of the legislation, which it dubbed an “integral” component of the fertilizer distribution system.
“We agreed to review their proposal closely and follow up with questions or concerns,” said Tai and Vilsack in a joint statement.
NCGA and presidents of 23 state grower organizations are adding their voices to a growing list who want the Biden administration to deal with Mexico’s coming ban (starting in 2025) on imports of GMO corn.
John Phipps has noticed more unsettling problems for the second-largest nation to the point that despite their skills and accomplishment, he thinks China is heading for trouble. He explains why in John’s World.
Mexican Secretary of Economy Raquel Buenrostro told reporters in Mexico Wednesday the decree to bar imports of GMO crops into Mexico will be pushed back to 2025.