Friday, the COOL reform coalition sent a letter to Congress asking them to protect U.S. exports from retaliation by making changes to the Country of Origin Labeling law. Coalition member and Corn Refiners Association President John Bode says they’re asking lawmakers to put in a contingency component to COOL that makes modifications to the law to bring the US. Into WTO compliance.
Bode says if Canada and Mexico retaliates against the United States it could cost as much as $ 2 billion to a wide range of agricultural and manufactured exports. He says not only will the dollar loss be significant, regaining those markets will be very difficult.
The United States has until November 28 to appeal the WTO ruling which makes the need for Congressional action on a contingency plan that much more urgent.