WASHINGTON – Sen. Chuck Grassley of Iowa, a senior member and former chairman of the Senate Finance Committee and member of the Senate Agriculture Committee, today made the following statement regarding a deal reached in principle by the United States and Mexico on sugar trade, a major step toward averting a potential trade war.

“This is great news for U.S. jobs, industry and agriculture. Avoiding a trade war will benefit everyone, and I’m glad that this years-long dispute is finally reaching its end. Getting a better and fairer deal for Americans while avoiding retaliatory actions by foreign governments is no easy task. Secretary Ross did an impressive job balancing all the interests in this dispute. This agreement bodes well for prospects that NAFTA can be renegotiated successfully.”

In a May 2, 2017, letter, Grassley urged the Secretary of the U.S. Department of Commerce to ensure that any consequences of the multi-year U.S.-Mexico sugar dispute be contained to those directly involved in the dispute and not affect other U.S. trade interests, such as corn or high fructose corn syrup. The agreement in principle reached today successfully avoids any negative impact on the $500 million in annual U.S. corn sweetener exports to Mexico and the thousands of jobs it supports.