| MEXICO CITY, Aug 3 (Reuters) - Mexican Economy officials
said late on Friday they will ``examine'' a NAFTA panel ruling
that anti-dumping duties on U.S. corn syrup are illegal and
decide whether or not to revoke the tariffs.
The NAFTA dispute settlement panel stated in a report made
public on Friday that the Mexican government had ``failed to
establish threat of injury to the Mexican sugar industry
because of these imports.''
Mexican sugar producers claim the corn syrup, an
alternative sweetener to sugar, threaten their market share in
Mexico's mammoth soft-drinks industry.
The North American Free Trade Agreement (NAFTA) report also
said Mexico now has 90 days to either terminate the duties and
refund amounts already collected, or ``establish legitimate
grounds for the duties.''
``Economy Ministry authorities will analyze the decision in
light of applicable legislation, the available information,
and evidence in the file to determine whether to maintain or
revoke the tariffs,'' Mexico said in a written statement.
The NAFTA decision comes about six weeks after a World
Trade Organization panel ruled that Mexico's anti-dumping
investigation against U.S. exports of high-fructose corn syrup
was inconsistent with international trade law.
The United States ships about 225,000 tonnes of
high-fructose corn syrup to Mexico a year. The U.S. industry,
led by such influential companies as Archer Daniels Midland
Co. (NYSE:ADM - news) and Cargill Inc., wants Mexico to agree
to fully open its market.
Mexico began imposing anti-dumping duties on U.S.
high-fructose corn syrup in 1997 and U.S. industry filed a
NAFTA complaint the following year. |