"Undersecretary Sanchez and his entire team have worked hard to update the suspension agreement to deal with the concerns of domestic producers and to achieve an agreement that more closely follows the statutory mandates. Growers in Florida and across the country appreciate his efforts and those of the Department and others in the Obama Administration. Hard work remains, but they've consulted closely with us in the days leading up to this tentative agreement. Domestic growers have been focused on the proper implementation of U.S. law and the need for any agreement to reflect accurate cost data. In the future, the government will have to affirm the accuracy of Mexican growers' cost of production," said Mr. Brown.Edward Beckman, President of Certified Greenhouse Farmers, said, "The law entitles our industry to fair conditions of trade in fresh tomatoes. That's been the simple goal of this effort. In the sixteen years since the first suspension agreement was imposed upon domestic producers, the industry has changed dramatically but the suspension agreement has failed to change with the times as technology and growing methods have changed. The agreement has not even kept up with inflation. During the negotiations between the Department of Commerce and Mexico and their growers, we identified three essential components to any new agreement to bring about fair trade: pricing, coverage, and enforcement. Each component had to reflect the reality of today's market: inflation of almost 250% since the base year in Mexico; the changes within the industry in both the U.S. and Mexico that have taken place over the last sixteen years, including the growing importance of greenhouse tomatoes which have dramatically different growing environments and cost structures; and, the gaming of the system by Mexican exporters that has occurred."
U.S. Tomato Growers Indicate Tentative Support For Revised Suspension Agreement Covering Fresh Tomatoes From Mexico Reached By The U.S. Government And Mexican Growers
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts