Mexico agrees to talk about tough NAFTA issues
The Dollar Business Bureau Mexico agreed on Wednesday to start discussions on tough issues in the renegotiation of the North American Free Trade Agreement (NAFTA) which is likely to begin on August 16. Canada has vehemently opposed a US proposal to do away with binational dispute resolution panels in which experts on the review panel review the decisions to impose tariffs or quotas. Though the Mexican Economy Secretary Ildefonso Guajardo denied taking any immediate position on the ‘panel issue’, but added that Mexico is keen to see that the process is modernised. In an interview Guajardo refused to take any stand, ‘I don’t think that when you start negotiations, it does any good to shadow box.’ He instead agreed to putting strong ...
Allocation of sugar quantity for export under tariff rate quota, USDA
The Dollar Business Bureau The US Department of Agriculture (USDA) had announced a non-country specific tariff rate quota (TRQ) for exporters of refined sugar from World Trade Organization (WTO) countries. Refined sugar of 1,82,000 metric tons raw value (MTRV) has been allocated for the US fiscal year of 2018, which begins on Oct 1, 2017 till September 30, 2018. Of the 182000 MTRV of sugar, 22000 MTRV of sugar (which also includes 1656 MTRV of specialty sugar) and an additional 160000, TRV for specialty sugars. Imports of organic and other specialty sugars are administered on a first-come-first serve basis in 5 tranches, as detailed below in the USTR report. On October 2, 2017, under the first tranche, 1656 MTRV of all types of specialty sugar ...
PM Modis 4 day Europe tour, FTAs, trade talks to take precedence
Sheela Mamidenna Earlier in 2017, the Prime Minister Narendra Modi while addressing a geopolitical conference said, “Our economic and political rise represents a regional and global opportunity of great significance. It is a force for peace, for stability and an engine for regional and global prosperity. For my government, this has meant a path of international engagement focussed on building development partnerships that extend from the islands of the Indian Ocean and Pacific to the islands of the Caribbean and from the great continent of Africa to the Americas. Creating Indian narratives on global challenges.” Well, for that matter, trade agreements play an important role in leveraging a country’s economic growth. Concurring to it, our globetrotting Prime Minister has made more than ...
