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Grassley Welcomes Conclusion To US/Mexico Tax Dispute

by Mike Godfrey, Tax-News.com, Washington

29 December 2006


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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