WTO verdict against Mexico.The World Trade Organization (WTO See World Trade Organization. ) stated that the Mexican tax applied on corn sweetener SweetenerA special feature added to a debt obligation or preferred stock to promote marketability. Notes: Warrants and convertibles are two popular sweeteners. See also: Convertible Bond, Kicker, Warrant Sweetener to protect local sugar producers violates Nafta rules. This decision could threaten the livelihoods of some of the 2.4 million people in Mexico who depend on the sugar industry. The 20% tax made high-fructose corn sweeteners produced by U.S. companies too expensive for use in Mexico's huge soft-drink bottling industry and enhanced the domestic market for home-produced sugar. If this decision is formally announced, Mexico must repeal the tax and pay penalties that could exceed US$ 300 million. "The Mexicans never had a chance. Their argument was based on fair play; the U.S. position was based on the law", said Sidney Weintraub, political economist with the Center for Strategic and International Studies The Center for Strategic and International Studies (CSIS) is a Washington, D.C.-based foreign policy think tank. The center was founded in 1964 by Admiral Arleigh Burke and historian David Manker Abshire, originally as part of Georgetown University. in Washington to Los Angeles Times Los Angeles Times Morning daily newspaper. Established in 1881, it was purchased and incorporated in 1884 by Harrison Gray Otis (1837–1917) under The Times-Mirror Co. (the hyphen was later dropped from the name). . [ILLUSTRATION OMITTED] |
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