Jose Enrique Arrioja
Bloomberg
March 7, 2011
Mexico will cut tariffs on $2.4 billion worth of U.S. products after the United States agreed to end a ban on Mexican trucks crossing the border, Economy Minister Bruno Ferrari said.
The countries will likely sign a formal trucking agreement in June and some tariffs will immediately fall, Ferrari and Dionisio Perez-Jacome, the minister of communications and transportation, said yesterday at a news conference in Mexico City.
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“We’ll lower 50 percent of tariffs to all the products once the agreement is signed,” Ferrari said. “The 50 percent remaining will be lifted once the U.S. grants the first authorization for a Mexican truck to operate” across the border, he said.
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