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Business Del Maguey Mexico United States 

Diageo to buy George Clooney’s tequila brand Casamigos for up to $1 billion

June 21, 2017 By Martinne Geller LONDON (Reuters) – Diageo Plc has agreed to buy George Clooney’s high-end tequila brand Casamigos in a deal valuing it at up to $1 billion, as the world’s largest spirits maker seeks to boost its presence in a high-growth market. Diageo said on Wednesday it would pay $700 million initially for the company, co-founded by the American actor, with potential payment of a further $300 million linked to performance over 10 years. The deal comes two weeks after Pernod Ricard took a stake in…

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canada Economy Georgia Mexico Top News United States 

NAFTA agriculture ministers see ‘few’ differences over trade

June 20, 2017 By Harriet McLeod GARDEN CITY, Ga. (Reuters) – The United States, Canada and Mexico have “relatively few” differences on agricultural trade, the three countries’ agriculture ministers said after meeting on Tuesday to discuss the renegotiation of the North American Free Trade Agreement. There are some “irritants” for each country, however, in the run-up to NAFTA renegotiations, U.S. Secretary of Agriculture Sonny Perdue told a joint news conference at the Port of Savannah, Georgia. “Now is not the time to talk about them. These are family discussions that…

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Economy immigration Mexico rates reform Top News 

Fed should be cautious on further rate hikes, Kaplan says

June 16, 2017 By Ann Saphir DALLAS (Reuters) – The Federal Reserve should be cautious about any further interest-rate hikes, Dallas Federal Reserve President Robert Kaplan said on Friday, just two days after he voted with the majority of his colleagues to raise rates for the second time this year. “We should be very careful about raising rates and we should do it patiently and carefully,” Kaplan said at a meeting of the Park Cities Rotary Club in Dallas, adding that he will need to see improvements in inflation, which…

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American Sugar Alliance Commerce Wilbur Ross Economy Mexico Phillip Hayes Top News 

Ross welcomes producer backing for sugar deal

June 16, 2017 WASHINGTON (Reuters) – U.S. Secretary of Commerce Wilbur Ross on Thursday commended sugar producers for signing onto a “fair” sugar trade deal a day after the United States and Mexico finalized details of the agreement. The deal, which was reworked from a 2014 pact, averts large duties on U.S. sugar imports of Mexican sugar and addresses industry demand for protection from cheap, subsidized sugar from its foreign supplier. “I am glad all parties have agreed that the new sugar agreement is fair and addresses the shortcomings of…

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canada Economy Mexico NAFTA Top News Trade Representative 

U.S steel association urges better coordination under new NAFTA

June 12, 2017 WASHINGTON (Reuters) – The top U.S. steelmakers’ association on Monday called for better coordination and enforcement of rules under a renegotiated North American Free Trade Agreement to guard against Mexico, the United States and Canada becoming a dumping ground for cheap steel from other countries. In comments to the U.S. Trade Representative ahead of NAFTA negotiations in August, the head of the American Iron and Steel Institute (AISI), Thomas Gibson, urged updates to NAFTA’s rules of origin – how much of a product is made in North…

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U.S., Mexico reach sugar pact but U.S. producers not on board

June 6, 2017 WASHINGTON (Reuters) – The U.S. and Mexican governments reached a new agreement in principle on trade in sugar, but U.S. producers have failed to endorse the deal, U.S. Commerce Secretary Wilbur Ross said on Tuesday. The agreement, which calls for Mexico to shift its export a smaller proportion of refined sugar and a larger proportion of raw sugar to the United States, would go through a final drafting stage, during which he said the two sides would try to make it easier for U.S. sugar producers to…

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U.S. and Mexico sugar talks go into overtime after day of drama

June 6, 2017 By David Lawder, Adriana Barrera and Anthony Esposito WASHINGTON/MEXICO CITY (Reuters) – U.S. Commerce Secretary Wilbur Ross on Monday extended the deadline for U.S.-Mexico sugar trade negotiations by 24 hours, and sources on either side of the spat said U.S. industry added new demands after the governments struck a provisional deal. Ross said extra time was needed to complete “final technical consultations” for a deal. At stake is the possibility of stiff U.S. duties and Mexican retaliation on imports of American high-fructose corn syrup ahead of wider…

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Exclusive: U.S., Mexico strike sugar deal ahead of NAFTA talks – sources

June 5, 2017 By Adriana Barrera and Dave Graham MEXICO CITY (Reuters) – The United States and Mexico reached an agreement in a dispute over trade in sugar on Monday, sources said, averting steep U.S. duties and retaliation by Mexico on imports of American high-fructose corn syrup ahead of the renegotiation of NAFTA. The U.S. Commerce Department was expected to hold a news conference later on Monday, two sources with direct knowledge of the talks said on condition of anonymity. The sources did not give details of the agreement, but…

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World Bank says trade, manufacturing to boost 2017 global growth

June 4, 2017 By David Lawder WASHINGTON (Reuters) – The World Bank on Sunday maintained its forecast that global growth will improve to 2.7 percent this year, citing a pickup in manufacturing and trade, improved market confidence and a recovery in commodity prices. The update of the multilateral development lender’s Global Economic Prospects report marked the first time in several years that its June forecasts were not reduced from those published in January due to rising growth risks. The World Bank’s 2017 global growth forecast of 2.7 percent compares to…

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Mexico growth outlook brightens on exports, tone on NAFTA: official

May 23, 2017 MEXICO CITY (Reuters) – The outlook for Mexico’s economy is improving after stronger factory exports in the first quarter and a more optimistic tone on trade talks with the United States, a top finance ministry official said on Monday. Finance Ministry Chief Economist Luis Madrazo said Mexico’s exports, excluding oil which has been hit by lower production by state-run oil company Pemex, grew 9.2 percent in the first quarter from a year earlier, the strongest pace in more than two years. “(Factory) exports are now firing on…

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