It still needs voting approval in the Senate and then goes
to President Barrack Obama who holds the right to veto the legislation.
That’s not likely to happen because Canada and Mexico have
applied to the World Trade Organization to impose higher tariffs on about $3
billion worth of U.S. products if the U.S. refuses to scrap the COOL
regulations.
They make it more costly for the U.S. meat-packing industry
to process livestock that was born in Mexico or Canada and that lowers the
price for Mexican and Canadian farmers.
Canada’s hog and cattle farmers have hired economists who
calculate their losses at about $1.5 billion a year because of COOL.
