US EditionMexico imposes steep tariffs on sugar imports to control domestic oversupply
18 Articles
18 Articles
Mexico sells more sugar than it buys but almost half of the imports come from the United States
Mexico City, Nov 11 (EFE).- The Government of Mexico justified this Tuesday the increase of the tariff on the import of sugar to 156% in order to stop the extraordinary increase of external purchases, protect the producers of sugar and “establish conditions of fair competition.” In a statement, the Ministry of Economy (SE) stressed that the sugar industry is a “strategic” sector for the country as it develops in 267 municipalities of 15 states, …
On Tuesday, the Mexican government announced that it had increased its tariffs on sugar imports, in order to protect the domestic industry from the "overabundance" of this product, the secretariat for the Economy announced.
The federal government increased the import tariff on sugar to 156 percent ad valorem (according to value), in order to protect national production and restore fair conditions of competition in a sector that generates 440,000 direct jobs and impacts more than 15 million people in 267 municipalities in 15 entities.
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