The United States and Mexico have resolved a long-running dispute that cost U.S. businesses more than $2 billion.
As a result of the signed agreement to allow limited access to U.S. highways for Mexican long-haul trucks, Mexico's punitive customs duties on 99 U.S. products have been cut in half. The remaining tariffs will be removed later this summer within five days after the first carrier is inspected and certified by the Department of Transportation to participate in the trucking program.
Trade equals jobs, and this agreement to reduce trade tariffs on U.S. and Texas products entering Mexico will help level the playing field and remove the unfair burden placed on the backs of our hardworking farmers and ranchers.
For too long Texas farmers, ranchers and consumers have paid the price for longstanding trade disputes between our two countries. According to the Center for North American Studies at Texas A&M University, Mexico's list of retaliatory tariffs had a direct effect on $190 million in Texas agriculture products, including pork, wine, peanuts, onions and dozens of other commodities.
In these tough economic times, it is imperative that the voice of reason speaks on behalf of our hardworking U.S. farmers and ranchers as well as consumers. As neighbors, Texas and Mexico have worked hard for decades to create harmonious trade protocols, and this agreement is another step forward in a mutually beneficial partnership.