Study: The End of the Cross-Border Trucking Program Hurts Economy
Earlier this year, the US put an end to the Mexico Cross-Border Trucking Program and a new study has revealed that it has hurt the economy.
A study conducted by the U.S. Chamber of Commerce founded these results:
– 25,000 lost American jobs
-$2.6 billion in foregone U.S. exports
-$2.2 billion in higher costs for U.S. businesses and consumers
In March when the U.S. government decided to stop funding the two year program, Mexican authorities immediately hit the U.S. with a $2.3 billion penalty duty on 89 U.S. imported products, costing the American consumer around $421 million.
The study’s results are based on the U.S. actions towards Mexico and the Mexican retaliation. These results were analyzed by DC Velocity magazine.
To read the more, click here.
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NAFTA Trade at an All Time Low on Record
Surface transportation between the U.S., Canada and Mexico has dropped by almost 35 percent over the last 5 months, according to the Bureau of Transportation Statistics.
Canadian-U.S. surface trade is down by 40 percent, more than Mexico-U.S. Could the rise of gas prices, the recession and the recent discussions concerning tighting border patrol have anything to do with that?
But, what’s not shocking is the reduced traffic between the U.S. and Mexico. Since the Mexican National Trucking Association has filed a formal compliant against the U.S. government for removing the cross border trucking program, reducing access for Mexican truck drivers on the U.S. highways. The association has reported a $6 billion loss of business.
To read the full article, click here.
Tired of Waiting on NAFTA-Cross Border Trade Heats Up
On June 2nd, the Journal of Commerce reported that the Mexican National Trucking Association is tired of waiting for the U.S. to reestablish its trucking program to enter in and out of the U.S.
Since March, the Department of Transportation and the Mexican National Trucking Association has been working on a new cross border trucking program, paperwork should be sent to Congress this month.
All this wait has upset Mexican truckers, who is seeking arbitration under NAFTA with the U.S. State Department claiming damages up to $6 billion for lose of business because of denied access to the U.S. highways.
To read the full article: Mexican Truckers Demand $6 Billion from U.S.