NORTHFIELD, Ill. – July 11, 2011 – Kraft Foods (NYSE:KFT) applauded the governments of Mexico and the United States for reaching an agreement last week to resolve a long-standing cross-border trucking dispute between the two countries. This agreement paves the way for a 50 percent reduction in Mexico's retaliatory tariffs on many U.S. agricultural and manufactured goods, including several Kraft Foods products. The remaining tariffs will be suspended as soon as the first Mexican carrier is granted U.S. operating authority.
Mexico is a priority market for Kraft Foods. This agreement addresses important aspects of road safety while enabling companies to reduce costs, improve operational efficiency and increase trade between the two countries. Experience around the world shows that free trade promotes economic growth and social welfare. This agreement is a significant step in promoting cross-border commerce between the United States and Mexico.
Northfield, Ill.-based Kraft Foods Inc. is a global snacks powerhouse with an unrivaled portfolio of brands people love. Proudly marketing delicious biscuits, confectionery, beverages, cheese, grocery products and convenient meals in approximately 170 countries, Kraft Foods had 2010 revenue of $49.2 billion, more than half of which was earned outside North America. Twelve of the company's iconic brands -- including Cadbury, Jacobs, Kraft, LU, Maxwell House, Milka, Nabisco, Oreo, Oscar Mayer, Philadelphia, Tang and Trident -- generate revenue of more than $1 billion annually, and 40 have been loved for more than a century. A leader in innovation, marketing, health & wellness and sustainability, Kraft Foods is a member of the Dow Jones Industrial Average, Standard & Poor's 500, Dow Jones Sustainability Index and Ethibel Sustainability Index. For more information, visit kraftfoodscompany.com and facebook.com/kraftfoodscorporate.
- make today delicious -
Michael Mitchell (Media)