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Mexico and U.S. Seek Compromise on GMO Corn Trade
Weekly Market Briefs
By Hil Anderson (hil@hedge-plus.com)
November 30th, 2022 Edition
A deal could be in the works as the dispute over Mexico’s plan to ban imports of GMO corn from the United States comes to a head.
Mexico’s President López Obrador earlier this fall stunned many U.S. lawmakers and corn producers when he reiterated that a previously announced ban on imports of both GMO corn and the herbicide glyphosate was still on track to begin in 2024. Such a move would obviously be a diplomatic derecho to U.S. farmers who are heavily invested in GMO corn and ship around 7 million metric tons of total corn to Mexico annually.
The ban has Congress on high alert and urging the U.S. Trade Representative, Katherine Tai, to file an official dispute over what could be a violation of the three-party United States-Mexico-Canada Agreement (USMCA).
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