Nation’s economy could be severely harmed
Washington, DC– Without prompt congressional response to the World Trade Organization’s final ruling against the U.S. Country of Origin Labeling (COOL) rule for muscle cuts of beef and pork, U.S. manufacturing and agriculture would be severely harmed.
The WTO ruling allows Canada and Mexico, America’s two largest export markets, to advance billions of dollars’ worth of retaliatory tariffs on U.S. food, agricultural, and manufactured goods.
“Most of last year, we pursued a contingency plan to be ready for this situation. COOL proponents worked against us. Now, we are facing substantial economic harm. Congress must repeal the violative requirements of COOL before its summer vacation in August,” stated John Bode, President and CEO of the Corn Refiners Association.
Canada has already issued a preliminary retaliation list targeting a broad spectrum of commodities and manufactured products that would affect every state in the country. Mexico has not yet announced a preliminary retaliation list but it has implemented retaliatory tariffs in the past which may be indicative of future tariff actions. That is why the Corn Refiners Association has joined with business leaders from all sectors of the American economy to urge prompt congressional action to bring the U.S. into compliance on COOL. In a letter sent to the U.S. Senate last week, senators were urged to prepare to act on legislation quickly.
“Mexico and Canada are the largest export countries for U.S. agriculture, and are the leading export markets for U.S. refined corn products, which are being targeted by both countries. If Congress fails to pass corrective legislation before its summer vacation, billions in exports sales will be lost, business facilities will close and jobs will be lost,” continued Bode.
CRA is a member of the COOL Reform Coalition. To read the coalition’s statement, go here.
CRA is the national trade association representing the corn refining (wet milling) industry of the United States. CRA and its predecessors have served this important segment of American agribusiness since 1913. Corn refiners manufacture sweeteners, ethanol, starch, bioproducts, corn oil, and feed products from corn components such as starch, oil, protein, and fiber.