Cord Moving and Storage Reports on the Free Trade Agreement
A report out of Washington DC this past week – Mexican truckers will be able to carry goods deep into the United States, and vice versa, under a deal signed Wednesday in Mexico City to keep a 17-year-old promise.
Cord Moving and Storage is reporting that part of the deal, Mexico will eliminate tariffs on $2.3 billion of American goods and agricultural products as soon as the first Mexican truck obtains a permit and is allowed to enter the United States. As a preliminary step, the tariffs will be reduced 50 percent by the end of this week.
The United States had refused to honor a condition of the 1994 North American Free Trade Agreement that allowed Mexican trucks to carry shipments across the border to a final destination. Regulations instead required those trucks to unload shortly after crossing the border. After more than a decade of waiting and negotiating, Mexico retaliated by imposing tariffs in 2007.