| MEXICO CITY, June 25 (Reuters) - Mexico will decide in the
next couple of days whether to appeal a World Trade
Organization ruling that found its anti-dumping duties on
imports of U.S. corn-based sweetener violate international
trade law, a Mexican trade official said on Monday.
``We are reviewing the ruling and will decide to either
accept it or appeal it, probably on Tuesday or after,'' the
trade official told Reuters. ``We have the right to appeal
it.''
Mexico says a rise in HFCS imports from the United States
since 1996 harmed its local sugar producers, depressing sales
and raising industry unemployment.
High fructose corn syrup has displaced sugar as the key
sweetener used in Mexico's enormous soft-drink industry,
cutting the sugar industry stake in what growers say is a
fundamental market.
To offset the imports, Mexico slapped prohibitive tariffs
on U.S. high fructose corn syrup (HFCS) flowing across the
border.
In Geneva, however, a WTO panel on Friday ruled that Mexico
was violating global trade rules with the anti-dumping tariffs
on HFCS imports from the United States and said the Latin
American nation should drop them.
The U.S. government requested that a WTO panel review
Mexico's renewed argument that the HFCS shipments were a
threat to its sugar industry.
This same WTO panel found in January that Mexico's actions
were inconsistent with WTO anti-dumping laws. Mexico
maintained its import duties despite the ruling.
Mexican duties on the U.S. imports range from $55.37 to
$175.50 per metric ton and are paid by U.S. companies,
including Archer Daniels Midland Co (NYSE:ADM - news), the
largest U.S. grain processor, and agricultural giant Cargill
Inc. |