The Trade Alliance to Promote Prosperity (TAPP), a coalition of American companies, workers & trade associations, has voiced its opposition to increasing taxes on phosphate imports from Morocco and Russia.
Such a move and hike would deal another blow to farmers, said Mr. Kent Kaiser, executive director of TAPP. His comments come after the giant Mosaic company has requested the US Department of Commerce to impose a tariff hike on imports of phosphate from the North African Kingdom and Russia.
US farmers don’t need government meddling in their businesses, TAPP chief said, explaining that Mosiac owns the majority of phosphate mines in the United States and would be in a monopoly position by putting its rivals in competitive disadvantage.
He warned these tariffs would lead to an increase in fertilizers prices and would cost farmers between $480 to $640 million in additional expenditure.
“We really believe these tariffs are a bad idea”, stressed the executive director of the Trade Alliance to Promote Prosperity. His call launched to farmers, trade unions, businesses and policy-makers to oppose Mosaic move gained momentum, leading to “No on Farm Tax” Campaign.
Eight Republican Senators sent letters to the Department of Commerce and US International Trade Commission urging them to decline Mosaic’s request.
Morocco is the world’s largest exporter of raw phosphate.
US trade agreement with Morocco goes back to 1786. It is the longest unbroken US agreement.