On the southern border, the US and Mexico recently signed a joint work plan for mutual recognition of each other’s trade security program, CBP’s C-TPAT and Mexico’s New Certified Companies Scheme (NEEC). Both countries expect to implement the plan in two years. This is similar to Beyond the Border initiative with our northern trading partner, Canada.
Separately, the US and the EU have renewed efforts to create a free trade zone for their mutual benefit. Previously, the parties were unable to agree on the harmonization of taxes, tariffs, regulations and standards. But with economic woes still engrained on both sides of the Atlantic, a free trade zone will likely save hundreds of billions of dollars — on both sides — each year, providing an incentive to find common ground. Listen to the report from National Public Radio.