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Copyright © 2014
Angus Journal


WTO Announces More Than $1 billion in Final Retaliation Amounts, COOL Reform Coalition Calls for Immediate Congressional Action to Avoid Economic Crisis


Washington, DC - The World Trade Organization (WTO) announced that it is authorizing Canada and Mexico to move forward with a combined $1,009,760,000 in retaliatory tariffs in response to U.S. noncompliance on country-of-origin labeling (COOL) for muscle cuts of beef and pork. The COOL Reform Coalition, representing more than 140 companies and associations from a broad spectrum of industries, strongly urges Congress to repeal immediately the noncompliant provisions of law and to honor our international trade obligations.

 

Today's announcement signals that we have run out of time on this issue. Retaliation could start within days, posing a very real threat to our economy and thousands of American jobs. Unless Congress acts now, companies that export to our two largest trading partners are in jeopardy of losing significant market share that will be difficult to regain. We urge Congress to act now to bring the U.S. into compliance and end this impending negative economic blow to the U.S. economy. 



Editor's Note: This article is from COOL Reform Coalition.