LatinNews Daily Report - 13 June 2013

Mexico: In a statement issued on 7 June, Mexico’s economy ministry said it was considering suspending preferential trade tariffs with the US on various products. The announcement points to a simmering trade dispute over meat labelling which stems from a 2009 US requirement (Country of Origin Labelling, COOL) stipulating that retail outlets specify the country of origin on meat labels and other food products. Both Canada and Mexico challenged COOL before the World Trade Organization (WTO), arguing that it has a trade-distorting impact by reducing the value and number of cattle and hogs shipped to the US market, thus violating WTO trade commitments agreed to by the US. The WTO set the deadline of 23 May for the US to comply with WTO rules but the revisions made by the US failed to placate Canada and Mexico who claim it worsens the situation.

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