Mexico is
expected to suspend 50% of its retaliatory tariffs on U.S.
exports as of July 8 after the U.S. and Mexico signed
July 6 a memorandum of understanding resolving their longstanding dispute over
Mexican trucks. U.S.
officials cast the MOU as an agreement that will ensure roadway safety, create
jobs in the U.S. and
support economic development in both countries.
Mexico
currently imposes tariffs of 5-25% on $2.4 billion worth of goods imported from
the U.S. in
retaliation for Washington’s
failure to allow Mexican long-haul trucks to operate beyond U.S. border
zones, as required under NAFTA. In April the Department of Transportation
announced details of a new phased-in pilot program that will allow
Mexico-domiciled motor carriers to operate throughout the U.S. for up
to three years and grant U.S.-domiciled motor carriers reciprocal rights to
operate in Mexico for the
same period. Read more here.
