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Does the 1997 FTA between the EU and Mexico reduce tariffs to zero, or simply agree to reciprocity?
I ask because a modernised version of the agreement is being finalised that “scrap high Mexican tariffs on European food and drinks.” This implies that tariffs on such goods remain in place currently.
Does the 1997 FTA between the EU and Mexico reduce tariffs to zero, or simply agree to reciprocity?
Provided "reduce tariffs to zero" should be interpreted as "reduce all or most tariffs to zero", the answer appears to be neither. The FTA created a Joint Council, which in March 2000 produced two schedules, one for the European community and one for Mexico listing the minimum quotas and maximum tariffs to be applied to various classes of goods in the future. Some, but not all of these were zero rated, but it definitely didn't include all classes of goods.
taxes applying to a large quantity of importing goods were eliminated or reduced.