The following article is from the NAFB News Service:
According to The Hagstrom Report, the U.S. International Trade Commission determined last week there is a reasonable indication U.S. sugar growers have been materially injured by Mexican sugar imports subsidized and sold in the U.S. at less than fair value. From this determination, the Commerce Department will continue its investigation.
American Sugar Alliance spokesperson Phillip Hayes says the ITC made the right decision as Mexico’s actions have harmed hardworking sugar producers and taxpayers. U.S. sugar growers have claimed Mexico’s actions will cost the industry 1-billion dollars this year. Hayes says losses will compound unless U.S. law is enforced and Mexico stops dumping and subsidizing its sugar exports.
The Commerce Department’s preliminary countervailing duty determination is due around June 23rd and its antidumping duty determination is due around September 4th.
Source: NAFB News Service
Posted by Haylie Shipp