Mexico Considering Duty-free Corn Trade with Brazil, Argentina

Dan Corn, Industry News Release

Mexico is mulling over drafting trade agreements that offer Brazil and Argentina duty-free access to the Mexican market for corn. Mexico is the world’s biggest buyer of U.S. corn, and the potential move by Mexico is seen as a shift away from American imports, according to DTN. An eagerness to renegotiate the North American Free Trade Agreement by President Donald Trump has corn buyers in Mexico concerned and exploring other options. Trump has called NAFTA unfair to the U.S. and has vowed to renegotiate the deal or walk away. Mexico currently imports 98 percent of its corn from the U.S. and total U.S. farm sales to Mexico were worth an estimated $17.7 billion last year, five times greater than when NAFTA came into force. The U.S. Department of Agriculture says corn imports by Mexico from the U.S. were worth $2.3 billion in 2015.

From the National Association of Farm Broadcasting news service.