President Barack Obama and Mexican President Felipe Calderon on Thursday reached an agreement to resolve the long-running dispute over cross-border trucking between the two countries. The agreement may be finalized as soon as June.
“This agreement has been a long time coming and, with half of the $2.4 billion in Mexican retaliatory tariffs to be lifted as soon as the agreement is finalized, this will have an immediate positive impact on U.S. agricultural exports,” said AFBF President Bob Stallman. The remainder of the tariffs will be lifted when the necessary safety tests are completed and the first Mexican truck rolls across the U.S. border.
Mexico is the third-largest agricultural export market for U.S. farm goods. Farm Bureau is urging the administration to finalize the agreement quickly.