by Nate Wooley | February 4, 2013 12:28 pm
An agreement reportedly has been reached that will end the ongoing dispute between the U.S. and Mexico over tomatoes.
The agreement — which is only preliminary — would prevent Mexican tomatoes to be sold inside the U.S. at below production cost, Fox News reports. The agreement will help American tomato farmers by enforcing anti-dumping measures and setting minimum wholesale prices.
The agreement also ends an investigation spurred by complaints from tomato growers in Florida. The farmers complained to the Department of Commerce that Mexican tomatoes were being sold at an uncompetitive price. Tom Vilsack, U.S. Secretary of Agriculture, said the deal will allow American tomatoes “to compete on a level playing field.”
Of the agreement, Edward Beckman, president of Certified Greenhouse Growers, said any final deal must cope with pricing, coverage and the application of existing trade laws.
In a statement, Beckman said, “We believe that the Department of Commerce and Mexico have struck a deal that meets those three tests, and we’re hopeful and optimistic that we’ll be able to compete under fair trade conditions.”
Source URL: http://investorplace.com/2013/02/an-end-to-the-u-s-mexico-tomato-war/
Short URL: http://invstplc.com/1ftCqmy
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.