Grassley Welcomes Conclusion To US/Mexico Tax Dispute
Sen. Chuck Grassley, chairman of the Committee on Finance, with jurisdiction
over international trade, has welcomed the Mexican lawmakers' removal of Mexico’s
tax on high fructose corn syrup. According to Grassley, the 20% tax, levied on soft drinks sweetened with high
fructose corn syrup, shut down US high fructose corn syrup sales in Mexico and
was ruled a violation of Mexico’s obligations as a World Trade Organization
member. Grassley has vociferously urged Mexico to lift the tax and worked with US trade
officials to end the dispute. Grassley's state, Iowa, produces more than 25% of the nation’s high fructose
corn syrup. “This is very important to corn farmers and high fructose corn syrup
producers in Iowa and other states. They’ve been unfairly shut out of
a legitimate market. Now they’ll be able to access that market fair and
square," Grassley commented. "I’m glad the Mexican Congress recognized its need to meet its WTO
obligations. Both the United States and Mexico have gained a lot from opening
up trade. With this dispute behind us, we’ll gain even more," he
added. .
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