ITC: looks like Mexican sugar hurting US sugar
NEW ORLEANS - The U.S. International Trade Commission says there's a reasonable indication that U.S. sugar producers and refiners are being hurt by imported sugar from Mexico.
A news release on its website says commissioners voted 5-0 on Friday to investigate allegations that Mexico has been dumping heavily subsidized sugar on U.S. markets.
The American Sugar Alliance and other groups say sugar subsidized by the Mexican government has cut the price of raw sugar in half since 2011.
The U.S. Commerce Department also is investigating allegations that Mexico is exporting far more sugar than it has in the past and selling it in the U.S. at much less than fair market price.
If Commerce Department findings support the claim, the International Trade Commission could impose import duties to make up the difference.