BUSINESS NEWS | Mon Jun 5, 2017 | 7:57pm EDT

Sugar trade talks between U.S. and Mexico go into overtime

By David Lawder, Adriana Barrera and Anthony Esposito | WASHINGTON/MEXICO CITY

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 trade talks expected in August.

An agreement in Washington would end a year of wrangling over Mexican sugar exports. The latest talks began in March, two months after President Donald Trump took power vowing a tougher line on trade to protect U.S. industry and jobs.

They are seen as a precursor to the more complex discussions on the North American Free Trade Agreement between the United States, Mexico and Canada.

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