Monday, February 20, 2017
Lessening its Dependence on the United States, Mexico Will Seek to Buy Corn from Other Countries
Reuters News Service reports that the Mexican Minister of Agriculture will lead a business delegation from Mexico to Argentina and Brazil to buy yellow corn. The move is part of a plan to lessen Mexico's dependence on U.S. exports because of threats from the current U.S. President to disrupt a long-standing free trade agreement between the United States and Mexico and to impose taxes on products on Mexico.
Mexico currently imports $2.3 billion of yellow corn annually from the United States. Mexico is the largest foreign buyer of corn from the United States.
Mexico will now look increasingly to Argentina, Brazil, and other countries to decrease its dependence on the United States. Click here to read more.
Additionally, a Mexican Senator reportedly has promised to introduce a bill that would require Mexico to import corn from Argentina and Brazil instead of the United States. Click here to read more.