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(2) restricting sugar imports using a tariff-rate quota, and (3) limiting the amount of sugar that processors can sell domestically (under marketing allotments) when imports are below 1.532 million short tons. Import restrictions are intended to meet U.S. commitments under the North American Free Trade Agreement (NAFTA) and Uruguay Round ...
Limits on the amount of sugar each producer can sell; An import quota on foreign-made sugar; A program to convert excess sugar to ethanol fuel, when the other tools are not effective; In August 2014, the United States imposed import tariffs on Mexican sugarcane after U.S. farmers complained that Mexican sugar was flooding the market.
Sugar is the second largest crop in Mexico (after corn). Sugar crops span 1.6 million acres throughout 12 Mexican states and employ 2.5 million of Mexico's people. [3] As a part of North American Free Trade Agreement, the United States enabled free trading of all goods and services free of quotas.
Essentially, the tariff on imports plus the 25% penalty could effectively put an end to NAFTA, making “auto parts and electronics from Mexico pricier.” Plus, he added, “Companies might move ...
In economics, a tariff-rate quota (TRQ) (also called a tariff quota) is a two-tiered tariff system that combines import quotas and tariffs to regulate import products. A TRQ allows a lower tariff rate on imports of a given product within a specified quantity and requires a higher tariff rate on imports exceeding that quantity. [ 1 ]
The US sugar system is complex, using price supports, domestic marketing allotments, and tariff-rate quotas. [4] It directly supports sugar processors rather than farmers growing sugar crops. [4] [3] The US government also uses tariffs to keep the US domestic price of sugar 64% to 92% higher than the world market price, costing American ...
The staggering size of the most recent raw sugar delivery by market players holding futures contracts in New York, a record 2.62 million tonnes, has traders concerned that demand is fading in ...
By 1931, sugar prices had fallen from a pre-Depression level of 7 cents per pound to just one and one half cents per pound. [1] The US market for sugar was the largest in the world, consuming some 6,000,000 tons per year. [2] Of this, the US sugar industry supplied only about a third, while the rest consisted of foreign imports.