After months of wrangling, the U.S. and Mexico signed a new tomato trade agreement late Monday, officially suspending an antidumping investigation of fresh tomatoes from south of the border and raising floor prices for Mexican tomatoes.
The agreement, announced in February, prevented a trade war between the two countries.
U.S. growers in Florida had accused their Mexican counterparts of selling their tomatoes below fair market value — a practice known as dumping — and last year asked the U.S. Commerce Department to scrap the 17-year-old trade agreement.
The pact "provides an effective remedy for the U.S. domestic industry that protects American jobs,” said Paul Piquado, U.S. assistant secretary of commerce for import administration, in a statement.
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