Mexican president Vicente Fox issued an executive decree on Tuesday to suspend a controversial 20% import tax on the US high fructose corn syrup, a widely used ingredient by the soft drink industry. The country's Congress introduced the tax in January in a bid to boost the domestic sugar industry, which is struggling under the weight of a growing surplus that now stands at around 600,000 metric tons. For the last four years, the Mexican government has petitioned the US to increase its quota of sugar from Mexico.
MEXICO: Fox suspends controversial import taxes on sweeteners and luxury goods
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