Corn Products International, a U.S. corn refiner, submitted a US$325 million arbitration claim against Mexico for imposing a tax on soft drinks containing high-fructose corn syrup.Corn Products International, a U.S. corn refiner re·fine v. re·fined, re·fin·ing, re·fines v.tr. 1. To reduce to a pure state; purify. 2. To remove by purifying. 3. , submitted a US$325 million arbitration claim against Mexico for imposing a tax on soft drinks containing high-fructose corn syrup High-fructose corn syrup (HFCS) is any of a group of corn syrups that have undergone enzymatic processing in order to increase their fructose content and are then mixed with pure corn syrup (100% glucose) to reach their final form. . The company says it filed the claim under investment provisions of the North American Free Trade Agreement North American Free Trade Agreement (NAFTA), accord establishing a free-trade zone in North America; it was signed in 1992 by Canada, Mexico, and the United States and took effect on Jan. 1, 1994. that compensate for past and potential profit lost in relation to the tax. |
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