MEXICO CITY, Jan. 19 - The United States and Mexico agreed on Thursday to phase out American duties on Mexican cement imports, a move aimed at easing cement shortages caused by a building boom in Asia and rising demand for cement to rebuild after Hurricane Katrina.
The agreement would reduce duties on Mexican imports to $3 a metric ton, from $26, but limit imports to three million tons a year in the Southern states for the next three years, according to a statement from the Commerce Department. After that, all duties and quotas would be ended.
The agreement ends a 16-year dispute that began after the United States imposed duties on Mexican cement imports, responding to cement producers in Southern states who argued that Mexican producers were selling cement in the United States for less than in Mexico. [Read more - NY Times]
Comments